Facebook Reports Better Than Expected Earnings In Q3

Facebook Revenue Up After strong Q3 2015 Numbers

Facebook shares rose by 5% to $107.75 on Wednesday after the company reported a better-than-expected 40.5% jump in quarterly revenue.  

The company’s revenues were helped along by the launch of new advertisement services and updates to the Facebook mobile app. 

Earnings managed to beat Wall Street’s average estimate despite increased spending on Messenger, WhatsApp and the Oculus Rift.

Ad revenue grew 45.4% to $4.30 billion, with mobile ads accounting for 78% of the total versus 66% in the same quarter last year.

Facebook also announced that its network continues to expand, hitting 1.55 billion monthly active users as of September 30, that’s a 14% increase from one year earlier.

According to Facebook 1.39 billion users accessed the social media network by way of mobile devices.

Revenue jumped to $4.50 billion in the third quarter, up from $3.20 billion a year earlier. Analysts expected revenue of $4.37 billion.

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Net income attributable to shareholders increased to 31 cents per share, up from 30 cents per share during the same period of 2014.

Excluding items, Facebook earned 57 cents per share. Analysts estimated returns of 52 cents per share.

Facebook shares have risen 33% in 2015.