Facebook on Wednesday reported third quarter revenue of $4.5 billion for the period ending September 30, an increase of 41 percent compared to the $3.2 billion it earned during the same period a year earlier. Analysts were expecting just $4.37 billion during the three-month period.
The social networking giant posted a profit of $896 million, or $0.31 per share. That’s an 11 percent increase over the $806 million in profit the year-ago quarter brought. For a company founded by a teenager that’s on the cusp of celebrating its 12th anniversary, Facebook has demonstrated impressive staying power.
Zuckerberg and company also revealed that it logged 1.01 billion daily active users in September, 894 million of which visited via mobile device. In fact, Facebook said that 78 percent of its total revenue came from mobile ads versus just 66 percent a year ago. Monthly active users, meanwhile, climbed to a staggering 1.55 billion, good for an increase of 14 percent year-over-year.
Facebook owes much of its advertising revenue to video ads. On average, users are collectively logging eight billion views each day. That means Facebook has doubled its daily video views per day since April. To further put the feat into perspective, that’s 760 years worth of viewing each day.
Facebook said its ad business now generates $10.49 per user in Canada and the US.
Investors responded favorably to the news as share value is up nearly four percent in after-hours trading, closing at an all-time high.