Wednesday, November 01, 2017

Facebook Tops Sales Projections While Russia Ad Inquiry Unfolds - Bloomberg

Up to 2.07B monthly active users; see Facebook beats in Q3 with $4.7B profit, record share price despite Russia (TechCrunch) for more details

"Revenue rose 47 percent to $10.3 billion in the third quarter, compared with the $9.84 billion analysts expected on average, according to data compiled by Bloomberg. Net income excluding some costs grew to $4.71 billion, or $1.59 a share, the Menlo Park, California-based company said Wednesday in a statement. Analysts had estimated $1.28 a share.

Facebook’s results painted a picture of its growing power and influence on the same day its general counsel testified in Congress about how Russian actors used its social-media sites to spread political discord through paid ads and posts. The $100,000 in advertising spending being investigated by lawmakers pales next to the continued boost for the business thanks to growing demand for mobile marketing, especially via video. Meanwhile, Facebook continues to add users, with 1.37 billion people now logging on daily."
Facebook Tops Sales Projections While Russia Ad Inquiry Unfolds - Bloomberg
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