Facebook revenues rise by 32%

<p>Facebook’s revenues are higher by one-third, but the company is still making a loss.</p>

Facebook stocks closed higher on the Nasdaq index in New York last night (October 23rd) before the company reported that its revenues rose by nearly one-third (32 per cent) over the July-September period.

However, the internet company – which has been having a difficult time on the stock market – has still reported a loss of $59 million (£37 million).

The world's best-known social media site reported that its income rose by $1.26 billion over the course of the third quarter of the year, exceeding expectations, but its performance remains in troubled territory following a loss of $157 million in the previous three-month period.

Facebook's shares have plunged by around 50 per cent since its first appearance on the stock market in May, as it has struggled to turn its popularity into a profit-making enterprise.

Last night, Facebook closed 0.9 per cent higher on the Nasdaq to a share price of $19.50.

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