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There's a good reason why Facebook's mobile business is Watch Watery Boarding House Onlinebigger than ever.

The majority of Facebook's users now access the social network exclusively on a mobile device, Facebook announced as part of its third quarter earnings.

Of its 1.79 billion monthly active users, more than 1 billion are so-called "mobile only" users who only use Facebook on mobile devices. And, by all accounts, it looks like that number is only going to get bigger.

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Facebook once again beat expectations and the company shared a number of impressive stats about its still-climbing engagement. The social network reported more than 1.18 billion daily active users (1.09 of which are on mobile) and 1.79 billion monthly active users.

Still, the mobile-only statistic might be the most significant. It means that the company has succeeded in becoming "mobile first." What's more, that strategy has not only brought in huge numbers of new users, it's making them more money than ever. The vast majority of the company's ad revenue now comes from mobile ads as well.

In other words: Facebook's bet on mobile has paid off.

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