Facebook Delivers $7 Billion In Revenue In Q3 Report
Facebook’s have revealed sterling quarterly earnings report that saw the company deliver gains to shareholders on almost all fronts.
The social media giant brought in $7.01 billion in revenue and boosted its total monthly users to 1.79 billion.
Profits increased 17% versus the previous quarter to $2.379 Billion and 160% versus the previous year’s Q3.
The report revealed mobile-focused advertising now makes up 84% of the company’s revenue – totaling around $5.7 billion.
Analysts pegged Facebook’s revenue a few points lower at only $6.92 billion.
CEO Mark Zuckerberg summed things up in a post on Facebook, saying “We had another good quarter”.
During the earnings call, Zuckerberg talked up the company’s achievements with Internet.org and emphasized the importance of investing in video content moving forward.
He also noted that Facebook’s war on ad-blockers has proved to be one it’s capable of winning: raising desktop ad revenue 18% as a result.
Despite the strong results, Facebook’s share price dipped 7.6% in after-hours trading.