Facebook profits up, but teen involvement down
Updated: Thursday, October 31 2013, 07:53 PM EDT
(NEWSCHANNEL 3) - Facebook is seeing an increase in profits, but seeing a decrease of teens on the site.
A big surge in mobile advertising fueled a 60 percent jump in revenue for the third quarter.
That beat analyst expectations for the second straight quarter.
After an early spike in stock prices, Facebook shares turned lower on the news that fewer teens are using the site.
That's a very important, but fickle, demographic for social media companies.