Facebook posts loss despite rise in revenues

October 24, 2012 12:03

Social networking giant Facebook has posted a loss of 59 million dollars despite seeing a 32 percent rise in its revenues during the third quarter.

The firm's shares surged 10 percent on the New York Stock Exchange because of increased revenues from mobile advertising.

Facebook's mobile revenue of 152.6 million dollars made up 14 percent of total advertising sales, which analysts said exceeded their expectations, as it was only in March that the firm began placing adverts on users' pages when they access them on mobile devices, the BBC reports.

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