Facebook reported its Q3 numbers this afternoon.
The big news is that, after several quarters of revenue deceleration, Facebook finally stabilized 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.
The stock is going nuts on the news – it's up almost 10% on aftermarket trading.
THE NUMBERS:
--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.
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