If you run a Facebook page for your business, you’ve likely seen the social network plugging its ad services with a ‘See your ad here’ module on the side of your page, showing you what your Facebook post would look like as an ad.
It appears that advertising push is paying off for the tech titan, as Facebook announced its quarterly financials in the US overnight to reveal its ad revenue is up 64% from last year to $US2.96 billion ($A3.34 billion).
The company beat earning projections for the ninth consecutive quarter, with $US3.203 billion in total revenue recorded between July and September.
Mobile ad revenue was $US1.95 billion, up by 49% from last year. It made up 66% of Facebook’s total advertising revenue for the quarter.
Facebook also proved its popularity with users is not waning.
The number of monthly users signing up to Facebook grew by 2.27% in the quarter to 1.35 billion, albeit at a slower rate than last quarter, which saw a 3.125% spike in total user count.
Around 860 million people access Facebook daily, up 19% from last year, while 1.12 billion users accessed Facebook from their mobiles a month during the quarter, a 29% jump on last year.
However, it is not all stellar news for the company. Facebook also announced the financials of mobile messenger service WhatsApp for the first time since its $16 billion takeover of the company, revealing the app only brought in $US15.921 million in revenue and had a net loss of $US232.5 million in the six months ending June 30.
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Kirsten Robb is a former journalist at SmartCompany. Previously, she worked at News Corp as a property reporter for Leader Newspapers and the Herald Sun, and holds a Masters of Journalism at Melbourne University.
