Facebook scores big in Q3 earnings: $7.01B revenue and 1.79B users

Facebook scores big in Q3 earnings: $7.01B revenue and 1.79B users

Posted 18 seconds ago by Josh Constine (@joshconstine)
  • 0

    SHARES
Next Story

Here’s Apple’s new iPhone ad for Game 7 of the World Series

Facebook had a wildly successful Q3, earning $7.01 billion in revenue and $1.09 EPS from 1.79 billion monthly users, which grew 4.67% this quarter, speeding up from its 3.63%. Daily active users rose to 1.18 from 1.13 billion last quarter.

Analysts estimates were $6.92 billion in revenue and $0.97 EPS. Facebook’s share price hit an all-time high of $133.50 late last month. Facebook was at $126.70 before earnings were released.

While Facebook’s business continues to chug along, the company had a tumultuous quarter in the press. It dealt with allegations of censorship of graphic but newsworthy images like the The Terror Of War photo that depicts a nude Vietnamese child, though Facebook now vows to allow more of this kind of content. The company continues to refuse the label of a “media company” despite its algorithms and content policies having a huge impact on how over a billion people get their news.

But Facebook’s investment and focus on video seems to be paying off. Viewership is massive, and it’s allowing Facebook to slip more and more high-priced video ads into the feed. That revenue seems to be bolstering its earnings quarter after quarter.

  • 0

    SHARES

Newsletter Subscriptions

The Daily Crunch Get the top tech stories of the day delivered to your inbox TC Weekly Roundup Get a weekly recap of the biggest tech stories Crunchbase Daily The latest startup funding announcements
Enter Address Subscribe

Latest Crunch Report


SHARE THIS
Previous Post
Next Post