SAN FRANCISCO - Facebook blew past Wall Street's forecasts, sending shares rocketing to a new all-time high in after-hours trading on the news.
Shares of Facebook jumped 15.5%, at $56.65, after the company reported third-quarter results following the close of markets.
Facebook reported net income of $621 million on $2 billion in revenue for the quarter.
The social-networking giant was expected to post a 49% jump in net income on a 52% gain in revenue in the quarter compared with a year ago, according to the survey of estimates from Thomson Reuters. Analysts had projected that Facebook would earn net income of $462.3 million on $1.9 billion in revenue in the quarter.
Last quarter, Facebook reported that 41% of its ad revenue came from mobile devices. Facebook in that quarter reported that 819 million of its 1.15 billion members came from mobile.
The mobile advertising market is expected to jump 89% to $16.65 billion worldwide in 2013, according to eMarketer. Google is expected to bag half of those ad dollars, according to the research firm, while Facebook is forecast to snag 15.8%.
(Copyright © 2013 USA TODAY)