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Wednesday, October 24, 2012
Facebook Sees Mobile Ad Growth

Facebook has reported a loss of $59m despite seeing revenues rise 32% during the third quarter. The company revealed that its income rose to $1.26bn, between July and September.

Despite the revenues, Facebook's performance remains in the red, following a loss of $157m in the previous quarter.

Facebook's shares have lost about 50% since its stockmarket listing in May and the company is struggling to turn its online dominance into profits.

Facebook revealed that 604 million of its 1.01 billion users access its site using a mobile device.

"People who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform," claimed the chief executive, Mark Zuckerberg, in a statement.

Revenues from advertising increased 36%, between July and September, compared to the same period last year.

Mobile revenue of $152.6m made up 14% of total advertising sales.

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