Facebook (FB) Stock: Earnings Report Shows FB Growing Mobile Business
Facebook (FB) reported revenues of $1.59 billion and net income per share before non-recurring items of $.17 (CNBC figure). The Street estimated revenues of $1.52 billion and earnings of $.15 per share (CNBC figure). The revenue figure is 40% higher than in the previous year.
The number of users of FB increased from 1.01 billion to 1.06 billion in the third quarter.
Mobile contribution increased to 23% of revenues versus 14% in the third quarter. This phenomenon is noteworthy as mobile is becoming more important to the company. In fact, mobile users increased to 680 million (CNBC figure), a number greater than computer users for the first time.
In after-hours trading, FB was down slightly, but greater than $30 per share. Later, the company is going to make comments to the investment community.
The company is making progress, especially in terms of its mobile business. Now that mobile users exceed computer users, monetization of this part of the business is that much more important and well under way.