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Q3 numbers are in for Facebook, managed to beat Wall Street estimates

Facebook announces its Q3 results, things are looking good for the social network (NASDAQ:FB)

| Business, Financial & Legal News | Posted: Oct 30, 2013 9:33 pm

Facebook has just released its third quarter financial report, and even though its growth slowed, the company's revenue increased. Wall Street analyst predicted earlier that the Facebook would report a revenue of $1.91 billion with an estimated earnings of $0.19 per share, but the social network managed to best those estimates.

 

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Facebook has reported that during the third quarter of 2013 it earned a revenue of $2.02 billion with a per share earnings of $0.25, much higher than analyst had predicted. 41-percent of that $2.02 billion was generated from mobile which is up 10-percent over Q2 2013. Daily active users on the site rose to 728 million which is up from the 699 million Facebook reported last quarter. Monthly active users hit the 1.19 billion mark which is also up from the last quarter.

 

"We've made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile," CEO Mark Zuckerberg said in a statement. "The work we've done to make mobile the best Facebook experience is showing good results and provides us with a solid foundation for the future." This quarter that number grew to 49 percent."

NEWS SOURCES:Theverge.com

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