Facebook’s results exceeded estimates | What Facebook has announced
Facebook recently revealed how it is doing financially and its results were great. It saw a rise in revenue of 29% in the third quarter and was profitable as well. It announced this news at the end of the day, after Wall Street closed up.
This quarter, the company reported a net income of $6.09 billion compared to $5.14 billion in the previous year’s third quarter. The company also saw a boost in earnings per share with sales increasing by 10% during this time period. Ad revenue grew by $2.13 billion, which is good to know because advertising makes up 98% of total revenue. In the third quarter of 2018, the company’s revenue increased by $17.38 billion. Analysts in a FactSet poll were expecting net income of $1.91 per share, with revenue of $17.37 billion.
“We had an excellent quarter, and our community and business continue to grow,” Facebook CEO Mark Zuckerberg said. “We’re focused on making progress on important social issues, and creating new experiences that improve the lives of people.”
Facebook’s monthly active users (MAUs) hit 2.45 billion, a polling company predicted; about 2.8 billion people use Facebook and its apps each month. As expected, Facebook’s results exceeded estimates.
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Author: PC-GR
The World of Technology
