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.
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