Facebook reported its third quarter earnings today, and the figure that stood out was 1.01 billion average daily users. That is up 17 percent from the same three-month period last year and highlights what a massive global phenomenon the social network has become.
The company's share price also surged in after-hours trading after it beat analysts' expectations. It reported $4.5 billion in revenue and a profit of $1.46 billion. Those numbers are both up more than 40 percent over the same period last year.
As with previous quarters, mobile continues to be an increasingly large percentage of Facebook's revenue, now accounting for 78 percent of all advertising dollars on the platform, up from 66 percent for the third quarter last year.
Investors had been hoping that Facebook would break out some details of the money Instagram is earning. The photo-sharing app has now rolled out a robust advertising business, but so far, Facebook is keeping those numbers opaque, reporting inside of its larger advertising business.
So far founder and CEO Mark Zuckerberg had only platitudes to offer. "We had a good quarter and got a lot done. We're focused on innovating and investing for the long term to serve our community and connect the entire world." We're hoping for something more on the earnings call later this afternoon and will update this post accordingly.