Yesterday Facebook reported financial results for the quarter ended September 30, 2014. The figures posted by the social media giant showed a strong performance across several areas despite losses from its IM acquisition WhatsApp.
Revenue for the third quarter came to $3.2 billion which was a 59% increase from last year. Advertising revenue was a cool $2.96 billion with 66% of this coming from mobile advertising. On mobile alone this was an increase from the 49% contribution to advertising revenue recorded in the third quarter of 2013. That’s not bad for a product that was only introduced in 2012.
These results are nothing short of impressive. Despite the loss incurred from a yet to be lucrative acquisition WhatsApp, the Facebook team appears to be figuring out how to make money from the 1.35 billion Facebook population.
A lot of ideas being explored and implemented incrementally like video advertising and the experimental buy button all seem to indicate an even brighter future for The Social Network.
One obvious indicator from these results is the importance of all things mobile. Facebook has managed to draw a lot of revenue from advertising that is mobile specific, and as a leader in trends regarding digital communication, this is an affirmation of everyone’s belief in mobile as the centre for all marketing and communication.