Yesterday was a good day to bury news of the less-than-stellar variety. So hats off to Facebook for announcing their Q3 2012 results yesterday. And, although the firm posted a loss, revenue was up, which meant that Facebook’s stock soared by the close of trading yesterday.
The secret is in the mobile sauce, apparently. With the revelation that over half of Facebook’s users are accessing the site from portable devices–that’s over 604 million of them–the lion’s share of the $1.26 billion income came from advertising revenue, $1.09 billion. “People who use our mobile products are more engaged,” said Mark Zuckerberg in a statement. “And we believe we can increase engagement even further as we continue to introduce products and improve our platform.”
In the past month, the firm has rolled out new services aimed at turning Facebook a greener shade of blue. But the main hope for investors must be that Facebook will come to dominate the mobile arena more than its display-ad rival Google, and before Yahoo gets its act together.