Facebook’s got its mobile mojo working and is scooping up more of the on the go ad market.
The social network giant said mobile represented 66 percent of its third-quarter advertising revenue, up from 49 percent a year earlier.
That boost gave a jolt to the bottom line.
Profits shot up 90 percent to $802 million, or 30 cents a diluted share, while total revenues for the three months ended Sept. 30 gained 59 percent to $3.2 billion — with $2.96 billion of that coming from advertising.
Wall Street still wanted something more and traded the stock down 1.7 percent to $79.40 in afterhours action.
Facebook’s mobile move is an important sign since more internet traffic is going through smartphones, sparking a race among fashion e-commerce to sharpen their smartphone game.
Chairman and chief executive officer Mark Zuckerberg told analysts on a conference call that 864 million people use Facebook every day and that the network’s monthly total user base tallies 1.35 billion.
Fashion is keen on Facebook even if it hasn’t grown into the commercial platform many initially hoped it would.
But Zuckerberg has his eye on a bigger prize.
“For the next ten years, our focus is driving the fundamental changes in the world that we need to achieve our mission, connecting the whole world, understanding the world with big leaps in [artificial intelligence] and developing the next generation of platforms, especially in computing.”