Facebook Q3 revenue rises 59 percent, shares flat

By Alexei Oreskovic

SAN FRANCISCO (Reuters) - Facebook Inc grew revenue by 59 percent in the third quarter, edging past Wall Street targets, as the online social network saw strong demand for its mobile ads.

Shares of Facebook, which are roughly up 47 percent this year, were flat from their closing price of $80.77 in extended trading on Tuesday.

Facebook said revenue in the three months ended Sept. 30 totaled $3.2 billion, compared to $2.02 billion in the year-ago period. Analysts polled by Thomson Reuters I/B/E/S were looking for revenue of $3.12 billion on average.

Mobile ads represented 66 percent of Facebook's advertising revenue, up from 49 percent of ad revenue in the year-ago period.

 

The world's No.1 online social network said its total number of monthly users reached 1.35 billion in the third quarter, with 864 million users accessing the service every day.