ANKARA
Social networking company Facebook has reported a 59 percent increase in revenue as well as profits of $806 million, during the third quarter of 2014.
In a statement released Tuesday, Facebook reported revenue of $3.20 billion with a 59 percent increase compared with the third quarter of 2013.
"This has been a good quarter with strong results," said Mark Zuckerberg, Facebook founder and CEO in the statement. "We continue to focus on serving our community well and continue to invest in connecting the world over the next decade."
The company also stated that its expenses would grow up to 75 percent higher in 2015 and its revenue growth would slow down in the next quarter.
The projected rising costs led Facebook's shares to fall almost 11 percent in extended trading after the results came out. Share value decreased from $81.16 to around $73 on Tuesday.
The networking giant Facebook, which celebrated its tenth year of existence this past February, boasts 1.35 billion monthly active users worldwide, as of September 30, 2014, with 1.12 billion accessing the site through a mobile device.
Mobile advertising revenue represented approximately 66 percent of advertising revenue for the third quarter of 2014, up from approximately 49 percent of advertising revenue in the third quarter of 2013.
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