(San Francisco, CA) -- Facebook is reporting a big jump in revenue for the third quarter.

The social media giant said its quarterly revenue increased 60 percent to just over $2 billion. The firm's earned net income in the three months ended September 30th was $425 million , or 17 cents a share. The numbers exceed expectations.

Mobile ads make up the greatest share of Facebook's total ad revenue. Facebook also reported that the number of monthly active users on the service increased by about 40-million since June to just short of 1.2 billion.