Facebook reports $59 million loss in 3Q
Menlo Park, CA, United States (4E) – Social network giant Facebook reported a net loss of $59 million in its third quarter fiscal report. Meanwhile, its revenue climbed 32 percent to $1.26 billion. The company also announced that it has reached 1 billion active users with 60 percent of users accessing the website on mobile devices.
“People who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform,” Facebook founder and chief executive officer released in a statement.
It reported a $377 million operating profit, which was 9 percent lower than last year’s $414 million.
Facebook has made some strides in business over the span of this year. According to the company’s press release: Facebook has rebuilt its mobile app and made it faster and more reliable; made it easy for developers to build with Facebook; Software Development Kits (SDKs) for Android and iOS; and deep integration into iOS 6.0.
Facebook also improved its advertising strategy by launching new products such as Custom Audiences, Facebook Exchange and Offers. It has made 14 percent of its ads revenue from mobile and recently opened the website www.facebookstories.com.
“At the same time, we are deeply integrating monetization into our product teams in order to build a stronger, more valuable company,” Zuckerberg added.