Facebook posted quarterly results that topped analysts' expectations Wednesday, as ad revenue jumped and its user base continued to balloon.
The social media giant reported third-quarter earnings of 57 cents per share on $4.5 billion in revenue. Wall Street expected the company to deliver quarterly earnings per share of 52 cents on $4.37 billion in revenue, according to consensus estimates from Thomson Reuters.
Shares rose as much as 3 percent in extended trading, which would mark an all-time intraday high. (Click here for the latest stock quote.)
Monthly active users, or MAUs, rose 14 percent from the previous year to 1.55 billion, as of Sept. 30. Mobile MAUs came in at 1.39 billion, and both narrowly beat analysts' expectations, according to StreetAccount.
Daily active users also climbed 17 percent to 1.01 billion, beating the Street's expectation of 992 million. Nearly 900 million mobile users were active daily.
Advertising revenue — the vast majority of Facebook's sales — jumped 45 percent from the prior year to $4.3 billion. Mobile ad sales accounted for 78 percent of that, up from 66 percent in the prior year.
"We think we have the best mobile ad product in the market. We're able to target, we're able to measure. We have broad scale," Sheryl Sandberg, chief operating officer at Facebook, told CNBC.
Patrick Abboud
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