World's largest social network, Facebook with more than one billion users from around the world, has said that its mobile revenues have risen much faster than expected during the third quarter of the year.

The company said on Thursday that it now gets 14 percent of its advertising revenue from mobile ads. The total mobile ad revenues f the company increased to $150 million in the third quarter compared to an estimated $40 million to $50 million in the second quarter and almost nil in the first quarter.

The increased share of mobile advertising revenue shows that the social networking site is finding out ways to make money. This will bring investors some relief who were concerned over limited avenues for generating revenues by the company.

Mobile adversiting has been an area of concern among investors. The company has lost more than $40 billion of its market value since its May IPO. The new figures helped push the shares of the company 13 percent higher.

Facebook had seem several quarters of slowing advertising revenues but the increase in mobile advertising reversed the trend and helped company generate higher revenues. Advertising revenue of the company increased 36 percent to $1.09 billion while revenue from its payments and other businesses increased just 13 percent to $176 million.