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Facebook reported its Q3 numbers this afternoon.The big news is that, after several quarters of revenue deceleration, Facebook finally stabilised them this quarter.
In addition, Facebook managed to actually re-accelerate its advertising revenues, increasing them 32% y/y this quarter, up from 28% growth y/y last quarter.
One reason Facebook has managed to start growing again is its mobile advertising business, which grew from a $180 million revenue run rate in July to a $500 million run rate this quarter.
Advertising revenues are now 14% of Facebook’s business, only months after being 0%. That’s wonderful news considering mobile was supposed to be Facebook’s biggest weakness.
–Total Revenue: $1.26 billion vs $1.229 billion expectations.
–EPS: $0.12 vs. $0.11 expectations.
–Year-over-year ad revenue growth accelerated to 36%, up from 28% last quarter. That’s acceleration in Facebook’s core business and its huge news.
–14% of Facebook’s ad business comes from mobile now.
Facebook will host a conference call to discuss these results at 5 P.M. eastern, and we’ll be taking live notes here.
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