Touting Mobile-Ad Growth, Facebook Earnings Slightly Exceed Expectations
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With investors watching to see if Facebook’s ballooning mobile usage had slowed its revenue growth in the third quarter, the company nonetheless outperformed expectations that had been set for it.
Facebook reported adjusted earnings of 12 cents per share on revenue of $1.26 billion in the third quarter, coming in above analyst expectations of 11-cents-per-share earnings on $1.23 billion in revenue. Revenue climbed 32% over the same period last year, when it was $954 million, showing at least a temporary halt in the trend of revenue deceleration.
Facebook’s revenue also rose 32% in the second quarter, but that was slower than the 45% it showed in the first quarter of the year and the 88% it posted between 2010 and 2011. While the company reported a $59 million net loss largely due to outlays made in stock-based compensation (compared to net income of $227 million a year ago), the stock was up over 10% in after-hours trading.
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