Facebook ad revenue up 59%

Facebook's ad revenue grew 59% year on year in the three months to 30 September to $6.8bn, compared with $4.3bn last year, with the majority made up from mobile ads.

Facebook ad revenue up 59%

Mobile ad revenue was reported as approximately 84% of ad revenue, an increase from around 78% of ad revenue in the same period last year.

However Facebook expects ad revenue growth to slow next year.

Daily active users grew by 17% year on year to 1.18 billion, and mobile daily active users increased 22% to 1.09 billion.

On a monthly basis, overall active users were reported to rise by 16% year on year to 1.79 billion. On mobile, this was 1.66 billion, up 20% compared with the same period last year.

The social media network’s third quarter results reported total revenue up 56% year on year to $7bn, compared with $4.5bn in the same period in 2015.

Net income was $2.4bn, up 165% on last year when it reported this as $896m.

Mark Zuckerberg, Facebook’s founder and chief executive, said: "We had another good quarter. We're making progress putting video first across our apps and executing our ten year technology roadmap."

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1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).