Facebook revenue rises by $300m year-on-year

Facebook revenue rises by $300m year-on-year
Craig Chapple

By Craig Chapple

October 24th 2012 at 11:12AM

But social network reports net loss of $59 million in last quarter

Facebook revenue has risen by $300m to $1.262 billion in the last quarter compared to the same period last year, according to a newly released financial report.

Despite a dramatic rise in revenue by 32 per cent, income from operations actually fell by nearly $40 million compared to Q3 in 2011 to $377 million.

The social network outfit also reporeted a net loss of $59m, a stark drop from $227m last year, and stood at an overall net loss of $11m during the last nine months.

In its report, mobile was mentioned as a particular highlight for the firm, with mobile monthly average users totalling 604 million as of September 30th, an increase of 61 per cent year-on-year.

Overall MAUs for Facebook reached one billion, whilst DAUs surpassed 584 million.

Facebook CEO Mark Zuckerberg said the company would continue to introduce new products and improve the social network to help entice and engage more mobile users.

“As proud as I am that a billion people use Facebook each month, I’m also really happy that over 600 million people now share and connect on Facebook every month using mobile devices,” said Zuckerberg,

“People who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform. At the same time, we are deeply integrating monetization into our product teams in order to build a stronger, more valuable company.”