25 Oct 2012
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Facebook founders up US$2.3 billion

Facebook stock rose 19% following the company's third-quarter reports, with co-founders Mark Zuckerberg and Dustin Moskovitz collecting a combined US$2.3 billion in profits.

The social networking site published revenue of US$1.26 billion, representing a 32% increase from the $954 million in the same period last year in the financials yesterday, beating Wall Street expectations in the process.

Shares in the company closed at $23.23 a share last night, with CEO Zuckerberg collecting heavy gains of $1.8 billion, with Moskovitz making $495 million.

Facebook focused on the positives after Wednesday's report, as Zuckerberg highlighed the company's mobile gains.

“As proud as I am that a billion people use Facebook each month, I’m also really happy that over 600 million people now share and connect on Facebook every month using mobile devices,” Zuckerberg said.

“At the same time, we are deeply integrating monetization into our product teams in order to build a stronger, more valuable company.”

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