Facebook reported a 11% jump in profit for the third quarter as it witnessed a spike in revenue from ad sales. The social media giant saw revenues climb to $4.5bn (£2.9bn, €4.1bn) and claimed that its average daily users rose to more than 1 billion a day.
Revenues were up 41% as compared to the same quarter last year. The news also lifted its stock to an all-time high of $105.97 in after-hours trading on 4 November.
The numbers indicate the company's ability to attract new advertisers, who are increasing their digital ad spends. The Mark Zuckerberg-led firm also claimed that it had 2.5 million advertisers as of September, which was 25% more than what it had in February.
Its third quarter net income stood at $896m or 31 cents a share, up from last year's $806m or 30 cents per share. This beat analyst expectations of $776.5m or 27 cents a share.
Brian Wieser, analyst at Pivotal Research, said: "Facebook is your first port of call if you're a digital advertiser and if you have money to spend."
Meanwhile, Facebook said that revenues from mobile devices accounted for 78% of total revenues, up from 66% a year ago. However, on the downside, Facebook's projects such as artificial intelligence, virtual reality and an initiative to bring internet access to emerging markets increased its expenses.
The Menlo Park-headquartered firm has said that 1.55 billion users login to its website at least once a month, which has risen from 1.49 billion in the second quarter. It added that that 1.01 billion people logged in at least once a day in September.
Although, the increase in its user base came from a spike in mobile subscribers, a majority of the new users came from outside North America and Europe, which account for most of its revenues.
Average revenue per user in the US and Canada grew to $10.49 up 42%, more than thrice the global average of $2.97 and more than seven times that the Asia-Pacific, where revenue averaged at $1.39 per user.