Facebook reported strong financial results for the third quarter 2015 at $4.5bn, beating estimates of $4.37bn. Results were fueled by strong growth in its mobile advertising revenue. Daily active users topped 1.01bn during the autumn period, a 17% rise from 2014.
Facebook daily active users reach 1bn
The social network has been busy rolling out its Instagram ads, whilst continuing to innovate its suite of mobile advertising products. In addition, it boosted the number of video ads sales.
Overall mobile ad revenue represented 78% of ad revenue for Q3 2015, up from 66% during Q3 2014. Josh Olson, Analyst, Edward Jones & Co, said:
“Their core mobile-advertising business is still very strong and has a lot of runway. That has bought them time to be patient around these newer initiatives.”
Facebook confirmed that it would continue its investment in virtual reality and plans to provide the most comprehensive array of ad products to advertisers. Instagram now expands the company’s ad audience by over 400m users. Facebook also has 900m users on WhatsApp and 700m on Messenger.
The company is projected to account for 17.4% of the $72.1bn global mobile ad spend in 2015.