Over the past few months, Facebook has made a more aggressive push to make money on its mobile platform. The social network announced in its third-quarter report that it is making impressive progress in its shift to mobile, as 14 percent of advertising revenue in the third quarter came from mobile. The company now has 604 million mobile monthly active users.
Third quarter report
The stock value of Google plummeted after its preliminary third-quarter report showed that income dipped 20 percent while costs rose. This news sent a ripple effect throughout other Web giants on Wall Street, as the share prices of Facebook and Yahoo fell Thursday, as well.
Facebook announced that it will present its financial report for the third quarter Oct. 23. Much has changed since Facebook’s second-quarter report July 26, when the company reported that it lost $156 million in that time frame, despite an increase in revenue. What will Co-Founder and CEO Mark Zuckerberg say about Facebook’s progress over the past three months?