Facebook Pushes Past 1B Daily Active Users

Q3 Earnings Rise 11%
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Facebook is attracting more users to its social network, announcing Wednesday that it surpassed 1 billion daily active users (1.01 billion) on average for September, up 17% year-over-year.

Facebook also made progress on the mobile front, as mobile daily active users rose 27%, to 894 million on average.

Monthly active users as of September 30, rose 14%, to 1.55 billion, while mobile monthly active users, rose 23%, to 1.39 billion.

Facebook said it now hosts more than 8 billion daily video views, with more than 500 million people watching daily, and that it has more than 2.5 million active advertisers.

On the financial end, Q3 net income climbed to 11%, to $896 million (32 cents per share), on revenues of $4.5 billion, up 41% on a year-over-year basis (total ad revenue was $4.3 billion).

Mobile ad revenues represented about 78% of all ad revenue in Q3, up from 66%.

Total costs and expenses also rose – to $3 billion, up 68% from the year-ago period, as Facebook continued to explore new businesses and markets, including virtual reality (the Oculus Rift headset is poised to ship early next year, while a new model of Gear VR, Oculus’s mobile product with Samsung,  will retail this holiday season for $99, half the price of the current, heavier model.)

Facebook revenues and earnings beat Wall Street expectations on both counts. Shares were up $3.23 (3.11%) to $107.17 each in after-hours trading Wednesday.