The company's revenue totalled $1.26bn compared to $954m in the third quarter of 2011.
Facebook's revenue predominantly came from advertising which was $1.09bn, accounting for 86% of the social network's revenue.
GAAP net loss for the third quarter was $59m compared to a net income of $227m during the same period in 2011.
Facebook has been working hard to make strides in the mobile area, which the company told investors was its weak spot before going public.
The company launched mobile app install ads recently, and generated 14% of its advertising revenue during Q3 from mobile. Facebook has also rebuilt Facebook for iOS and recently closed its Instagram acquisition.
"As proud as I am that a billion people use Facebook each month, I'm also really happy that over 600 million people now share and connect on Facebook every month using mobile devices," said Mark Zuckerberg, Facebook CEO. "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."
As of September 30 2012 the company has over 1 billion monthly active users and an average of 584m daily active users.
In September over 600 million users accessed Facebook through mobile devices, an increase of 61% year-on-year.