The total revenue generated by Facebook in the third quarter surpassed $2 billion (£1.26 billion), as mobile ad sales contributed to a 60 per cent increase compared to the same quarter last year.
The report, released yesterday, also reveals that there has been a 25 per cent increase in the number of daily active users of Facebook, from 582 million to 728 million since this time last year. The news comes at the same time rival Google+ announced a 58 per cent increase in users.
507 million of the daily active users accessed Facebook from their mobile devices, with mobile ads contributing to nearly half of the total advertising revenue. This is significant, as advertising revenue contributes to 90 per cent of Facebook's total revenue, the remainder of which is made up of "payments and other fees."
Mark Zuckerberg, Facebook founder and CEO, said, "The strong results we achieved this quarter show that we're prepared for the next phase of our company, as we work to bring the next five billion people online and into the knowledge economy."
Overall net profit was announced as $425 million (£265 million), leading to an initial surge in Facebook's share price. However, speculation that use by younger teens has fallen caused the share price to fall back.
"That market is incredibly fickle," Silicon Valley analyst Rob Enderle told the BBC. "You don't want to see a trend that kids no longer think Facebook is no longer the place to be; that it is now their dads' service. The kids are Facebook's seed corn, and you don't want to lose that."
The growth of users in the US and Canada may also be a cause for concern for Facebook, as it has slowed dramatically in the last three months. Facebook earns approximately $4.19 (£2.61) from each North American user, almost six times more than it does for users in areas like Asia, where the main growth has come from.