Increased Facebook mobile ad sales lead to 60% boost in revenue in Q3

Social networking site Facebook has reported 60 percent boost in revenues driven by its accelerated mobile advertising business in the third quarter.

The company's shares also soared up by almost 15 percent in after-hours trading, following the earnings, before dropping back below their closing price, the Sydney Morning Herald reports.

Facebook has shown one ad per 20 stories in the newsfeed from past sometime now.

Chief Financial Officer David Ebersman said that the current ratio is almost slightly higher than 5 per cent, and it would not increase much more in the coming time.