Facebook stock up after earnings and revenue beat

Facebook stock up after earnings and revenue beat

Daily users grew 1.37 billion on average, while monthly users grew to 2.07 billion.

With this, the social network website made a profit of United States dollars 4.7 billion in Q3 2017 that ended on September 30, compared with USD 2.6 billion in the same period a year earlier.

Protecting the Facebook community is more important than "maximizing our profits", Zuckerberg said on the call.

Zuckerberg opened today's incomes call with a highly worded guarantee to mark out making use of Facebook for undermining democracy in the U.S. On Russia's use of the social network throughout the 2016 election he stated, "exactly what they did is incorrect, and we are not going to stand for it".

The company's third-quarter earnings far exceeded analysts' expectations, with Facebook reporting revenue of $10.33 billion and earnings per share of $1.59.

"We're serious about preventing abuse on our platforms".

He added by saying, " We're investing so much in security that it will impact our profitability. EPS (GAAP): $1.59 vs. $1.28 expected, up 77% from the year-ago period.

The company reported an EPS of $1.59, up 77 percent year over year, and beating analysts' estimates of $1.28.

For Facebook, the revelation was all the more embarrassing because it had previously estimated that only around 10 million U.S. users had been exposed to Russian disinformation.

Zuckerberg outlined investment priorities that included video content, which he described as the biggest trend at Facebook.

Revenue for the three months ended Sep 30 was up 47pc on a year earlier to $10.3bn (£7.8bn), thanks to a 49pc increase in advertising revenue.

"At first glance, no change to our positive thesis after Facebook reported stable ad revenue growth despite previous commentary around diminishing ad load contributions in (the second half of this year), wrote Baird analyst Colin Sebastian in a research note to clients".

Softening the sting for investors, the proclamation was delivered directly following the release of a stellar& amp; nbsp;third-quarter earnings report. The Senate Intelligence Committee has also questioned representatives from Google and Twitter. "Facebook plans to raise the standards of transparency for political ads on the site, rolling out a tool to let users see all of the ads a page is now running, and also an archive of political ads the advertiser has run in the past".

"I asked specific questions, I got vague answers, and that just won't do", she told the companies. "We're building AI to go after more different areas of harmful content and finding fake accounts and other bad actors in the system".

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