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Facebook's Q3 earnings exceed expectations, but Russian Federation issues may harm future profit

Facebook's Q3 earnings exceed expectations, but Russian Federation issues may harm future profit

"We see upside to average revenue per user, monthly active users, and Instagram".

With 1.37 billion daily active users and 2.07 billion monthly active users, Facebook again topped expectations when it reported 79 percent increase in its quarterly profit and almost 50 percent rise in revenues in the third quarter.

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

Facebook CEO Mark Zuckerberg did a "masterful" job discussing the impact of Russia's election meddling during the company's post-earnings conference call, CNBC's Jim Cramer said Thursday.

Ad revenue was up 68% YoY, from $6.8 billion to just over $10 billion, with mobile ad revenue comprising roughly 88% of ad revenue for the quarter, a 4% increase from this time previous year.

Chief executive Mark Zuckerberg used the update to reaffirm efforts by Facebook to curb manipulation: "We're serious about preventing abuse on our platforms", he said. Earnings per share were $1.59, above the $1.28 a share expected. The social media giant, along with Google and Twitter all sent general counsel this week to three scheduled meetings before the Senate Judiciary Committee on Russian influence in the 2016 presidential election.

Facebook beats The earnings of Facebook have come in at $1.59 per share which is above est of $1.28.

Texans' players kneel prior to Seahawks game
Video posted on twitter showed most of the team kneeling on the sideline and linking arms. Several of the players who chose to stand put a hand on a teammate's shoulder.


The quarterly earnings report was released as Facebook and other internet titans testified this week before Congress about a Russian-led effort to spread misinformation and sow discord ahead of the 2016 United States election.

Earlier this year there had been concerns that Facebook was reaching its limit on how many adverts it could fit into News Feeds without irritating users, but the group has recently been looking into putting adverts into its Messenger application and photo-sharing app Instagram.

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

"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".

Daily active users and monthly active users both grew 16 percent year over year.

"I asked specific questions, I got vague answers, and that just won't do", she told the companies. "What they did is wrong, and we are not going to stand for it".