Facebook Shares Rise on News Mobile Advertising Made Up Nearly Half of Q3 Ad Revenue

Fear over Facebook's ability to advertise on mobile marred its IPO

Mobile advertising now accounts for just short of half of Facebook's revenues, the social network company announced Wednesday sending shares soaring in after hours trading.

Releasing its latest quarterly results, Facebook said mobile advertising revenue represented approximately 49% of $1.8bn in ad revenue the company made in the third quarter of 2013.