In the months and weeks leading up to Facebook's IPO, investors and analysts questioned the strength of Facebook's ad-based business model -- in particular, how the company would continue to grow ad revenues as its users spent more time accessing the social network via their mobile devices, where there was less space to run the kind of display advertising upon which Facebook built its business.
Facebook's third-quarter earnings performance, released last Wednesday, is easing many of those concerns. The social network's ad revenues grew 36% year-over-year to $1.08 billion, of which 14% -- $139 million -- came from ads running on mobile devices. The company is now making $3 million…
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