Mediaboss Marketing

30 October 2013 Last updated at 17:23 ET

Social networking giant Facebook reported a 60% surge in revenue, to $2.02bn (1.26bn), in the third quarter, generating profits of $425m.

Revenue from advertising grew by 66% to $1.8bn, with nearly half of that coming from mobile ads.

"The strong results we achieved this quarter show that we're prepared for the next phase of our company," said Mark Zuckerberg in a statement.

Facebook's shares surged 15% in after hours trading.

Shares in the company have nearly doubled in value since July, when it first announced a big jump in its mobile advertising revenue.

The company has made a concerted push to boost its mobile offering, and now says that 874 million of the site's more than one billion users access Facebook on their phone.

Speaking during a conference call, Mr Zuckerburg called Facebook a "mobile company" and noted more than half of people are only using Facebook from their phones.

"It's a pretty incredible sign of how Facebook has evolved as a company," he said.

By growing its mobile users, the company has also been able to sell more mobile ads, a crucial metric that is widely watched by analysts.

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Facebook revenue surges 60%