Facebook Earnings Impress With 66% Year-Over-Year Revenue Increase

Facebook released its earnings statement on Wednesday and revealed that revenue is up at the social network by 66% year-over-year. For Q3 2013 the company raked in $2.02 billion and earnings per share of 25 cents.

As expected Facebook mobile ad revenue continued to increase with 49% of the company’s take now arriving by way of mobile devices. Payments and fees revenue totaled $218 million for the quarter.

The world’s largest social network also revealed that daily active users are up 25% year over year at 728 million on average. While monthly actives are up 18% year-over-year to finish at 1.19 billion. On the mobile side there are 874 million active users, up by 45% year-over-year. Daily mobile actives are also up at 507 million on average.

In the earnings statement Facebook CEO Mark Zuckerberg said, “For nearly ten years, Facebook has been on a mission to connect the world. The strong results we achieved this quarter show that we’re prepared for the next phase of our company, as we work to bring the next five billion people online and into the knowledge economy.”

Speaking about new mobile user growth and the sites overall health Zuckerberg said it shows an “incredible sign of how Facebook has involved over the past year.”

As Facebook continues to push for more users in developing countries the company’s founder also pointed to Internet.org, his organization that hopes to connect developing regions all throughout the planet.

Zuckerberg said the social platform is being helped along by better news feed and Graph Search features that keep users engaged on the site for longer period of time. The social network also launched privacy settings for teens and have seen an increased amount of engagement among younger users.

Facebook is now working on voice integration for Facebook Messenger, an option that could place the company in direct competition with Skype and other VoIP services.

With Facebook focusing on delivering new ad types and relevant ads, while engaging a younger user base, it looks like everything is on the up for the social network at this time.

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