This tells you how hungry investors are to hear something encouraging about Facebook. Shares are up more than 8.6% after hours following a Q3 report that included a nice 61% year-over-year increase in the number of mobile monthly active users. The company had a net loss of $59M vs a $227M profit last year — largely explained by the 64% increase in costs for share-based compensation and related payroll taxes and income taxes after it went public in May. Revenues rose 32.3% to $1.26B. That’s ahead of estimates for $1.23B. Without the extraordinary tax hit, the company figures earnings per share would have come in at 12 cents a share, beating forecasts for 11 cents. CEO Mark Zuckerberg urged investors to pay attention to the encouraging mobile numbers; mobile had been considered the company’s Achilles heel since it’s harder to sell high-priced ads to reach people who check Facebook from relatively small smartphone screens. “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,” Zuckerberg says.
Facebook Shares Rise After Q3 Earnings Beat Forecasts With Strength In Mobile
What's Hot on Deadline
Hollywood Wastes No Time Responding To Donald & Hillary; Megyn Kelly & Rosie O'Donnell Get The Last Word, For Now
Latest Business News
- Annapurna Pictures Launches TV Division Headed By Former HBO Executive Sue Naegle
- Smokey Robinson, BlackRock Team With Primary Wave To Promote “Iconic” Tunes
- Fox Networks Group Names David Levy EVP Of Non-Linear Revenue
- Bart & Fleming: How Will Wanda & Other Chinese Backers Change Movie Content?
- Redbox Gets New CEO As Investment Group Completes Outerwall Acquisition
- Peter Guber And Ted Leonsis Lead Buying Group For Esports Power Team Liquid