Mobile push grows Facebook revenue

Facebook has posted revenue growth of over 30% in its third quarter report, beating Wall Street expectations but also recording a loss.

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.

Reporting a net loss of $59 million, Facebook focused on the positives of the mobile boost, as the company continues to battle with disappointed investors.

"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," says CEO Mark Zuckerberg.

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

After failing to impress company investors through a lack of mobile service for both users and advertisers, Facebook ramped up their efforts during the third quarter.

The social media giant released new software development kits for both iOS and Android, while acquiring the mobile photo-sharing app Instagram.

In a day where the focus has been on Apple's product launch, it appears Facebook is quietly getting on with business as it tries to drive advertising revenue in the next quarter and beyond.