Facebook reported its earnings results and Wednesday. The social network said that it now has passed 1.11 billion monthly active users, with 751 million of those using their mobile devices. The 751 million mobile users is a 54 percent increase year over year and marks the second straight quarter that more users accessed the site from a mobile device than from the Web. Facebook though is generating more money from traditional PCs as only 30 percent of $1.25 billion in ad revenue during the quarter came from mobile. Facebook reported total revenue of $1.46 billion and earnings per share of $0.12, besting Wall Street's expectations on revenue (especially mobile) but missing out on profit estimates.
What Else You Need To Know
- Facebook announced that it passed 1 billion monthly active users in the third quarter of 2012.
- Created nine years ago as a website, Facebook is now competing with rival social networks such as WhatsApp and Twitter.
- Research firm Nielsen disclosed that Facebook has lost 10 million users in the U.S. over the past year.
Other sources
It looks like Facebook’s huge mobile risk is turning into a huge mobile opportunity.- Devindra Hardawar, Venture Beat
Taken together, Facebook has shown that it can earn money on mobile devices, but not that it is yet able to turn its expanding revenues into growing profits.- Alex Wilhelm, The Next Web
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