Facebook Sales Top Estimates as Companies Warm to Mobile Ads
This article is for subscribers only.
Facebook Inc., owner of the biggest social network, posted sales that topped analysts’ estimates, a sign of early success in a push to make more money from advertisements aimed at users of handheld electronics.
Third-quarter sales rose 32 percent to $1.26 billion, Menlo Park, California-based Facebook said today in a statement. That compares with the average estimate of $1.23 billion, according to data compiled by Bloomberg. Profit excluding certain items also exceeded projections by a penny.