Facebook’s third quarter report broadcast nothing short of a miraculous increase in revenue for the social network that now boasts more than one billion members.
And mobile is the major reason for the new fortunes being made by Facebook.
All told, nearly 44 percent of the company’s revenue was directly attributable to mobile advertising revenue last quarter.
Revenue for Q3 totaled $2.02 billion, which is a 60 percent increase over the third quarter of 2012. Revenue from advertising accounted for $1.8 billion of total revenue.
As of the end of September, Facebook had 1.2 billion monthly active users, 874 million of which are mobile monthly active users.
“For nearly ten years, Facebook has been on a mission to connect the world,” said Mark Zuckerberg on Wednesday. “The strong results we achieved this quarter show that we’re prepared for the next phase of our company, as we work to bring the next five billion people online and into the knowledge economy.”
And there’s an excellent possibility – if not probability – that Facebook will reach its goals largely because of the power, prevalence, and profitability of all things mobile in the modern world of social networking.