One billion people check Facebook daily

That’s up from 62 percent during the same quarter a year ago.

Facebook said its ad business now generates $10.49 per user in Canada and the US.

Facebook passed 1 billion active daily users in the third quarter, an increase of 17 percent year-on-year and up from 968 million in the previous quarter.

Mobile DAUs – Mobile DAUs were 894 million on average for September 2015, an increase of 27 per cent YoY.

Facebook chief Mark Zuckerberg said the company was “focused on innovating and investing for the long term”.

Sandberg said the average adult in the US spends 25 minutes of their weekly media time on mobile devices.

Mobile advertising revenue represented approximately 78% of all ad revenue during the quarter, up from 66% a year ago.

If you’re starting to notice more ads on Instagram, it’s all part of Facebook’s plan.

Facebook says a spike in mobile users and advertising is behind its strong growth in earnings for the third quarter, with net profits up 11 percent year-on-year to $896 million (824 million euros).

Facebook reported it had 1.55 billion users as of September 30, up 14% year over year. Facebook also presented users with the option of creating video profiles for their mobile accounts.

“As it matures they continue to prove they cannot only effectively monetise businesses and advertising partners but they have products and services that bring significant value to users”, said Brian Blau, research director, personal technologies at research firm Gartner.

The stock rose about 5 percent to an all-time high of US$109.34 in extended trading, before paring gains to about 4 percent.

Facebook CEO and founder Mark Zuckerberg was understandably upbeat on the figures, which he attributed to three core factors. That includes Instagram, the WhatsApp messaging app and Oculus VR, which makes virtual reality gear. With an incredible eight billion video views a day on the social network, it’ll be interesting to see how video evolves on the service.