Facebook announced Q3 revenues of $1.26bn last night, almost 7 per cent up on its Q2 revenues of £1.18bn, and 32 per cent up on its Q3 2011 revenues of £954m. Net income was £372m, 26 per cent up on the previous quarter and 64 per cent up on Q3 2011.

Despite the increased revenues, Facebook posted a $59m loss, due to share-based payouts. On a brighter note, the social networking giant revealed that 14 per cent of its ad revenues now come from mobile advertising. Facebook’s mobile ad revenues have more than tripled in the past three months, from around $45m in Q2, to around $150m in Q3.

The results boosted Facebook’s share price by almost 10 per cent to $21.41, though it has since dropped back to $19.50, a shade over half the $38 price at which Facebook IPOd in May.

In a statement accompanying the release of the figures, Facebook CEO Mark Zuckerberg said: “As proud as I am that a billion people use Facebook each month, I’m also really happy that over 600m people now share and connect on Facebook every month using mobile devices. People who use our mobile products are more engaged, and we believe we can increase engagement even further as we continue to introduce new products and improve our platform. At the same time, we are deeply integrating monetization into our product teams in order to build a stronger, more valuable company.”

And in a conference call with analysts, Zuckerberg went further, saying: “I want to dispel this myth that Facebook cant make money on mobile. This may have seemed true earlier this year because we hadnt started trying yet.”

Based on these figures, its hard to argue with that viewpoint.