Facebook Inc(NASDAQ:FB)’s results for the third quarter show that mobile advertising has contributed 14 percent to the company’s revenue.
"I want to dispel this myth that Facebook can't make money on mobile," said CEO Mark Zuckerberg in his conference call. "This may have seemed true earlier this year because we hadn't started trying yet."
"People who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform," he added. "At the same time, we are deeply integrating monetization into our product teams in order to build a stronger, more valuable company."
The company has made a loss of $59 million or 2 cents for the quarter ended September.
Excluding special items, the company has made a profit of $311 million or 12 cents a share, while analysts had expected an EPS of 11 cents.
Revenue jumped 32 percent from $954 million to $1.26 billion. The Street had expected $1.23 billion.
The stock rose to $23.30, up $3.79 or 19.50 percent.
Gilead Sciences, Inc.(NASDAQ:GILD) has declared its results for the third quarter. The profits have fallen mainly due to the costs related to the purchase of Pharmasset, the maker of Hepatitis C drugs. But results of the HIV drug maker are better than expected. The company has also upped its sales outlook for the year.
Revenue rose more than 14 percent to $2.43 billion thanks mainly to sales of Atripla, Truvada and Viread.
Net income fell to $675 million which works out to 85 cents a share compared to $741 million or 95 cents a share earned in the same period last year.
Excluding onetime items, the EPS of the company is $1 compared to last year’s $1.02. Analysts had expected an earnings of 94 cents a share and revenue of $2.34 billion.
The company expects this year’s sales to be in the range of $9.1 billion and $9.2 billion.
Shares of the company climbed $3.60 or 5.60% to $68.53 in late afternoon session.