tiptrot.com June 22, 2018

Facebook crushes Q3 earnings as stock trades at all-time high

03 November 2017, 12:17 | Cedric Leonard

Facebook crushes Q3 earnings as stock trades at all-time high

Here's What The Last 12 Months Looked Like For Facebook

For the third quarter, Facebook reported total revenue of $10.3 billion, up 47 percent year over year, and beating analysts' estimates of $9.84 billion.

Facebook reported a year-over-year increase in net income of almost 80 percent.

Facebook said average daily active users rose to 1.37 billion in the quarter, up 16% from the year-ago quarter, while monthly active users reached 2.07 billion, also up 16%.

The increase in security comes after Facebook, along with other tech giants, Amazon and Twitter, testified before Congress about the Russian ads meddling with the USA 2016 Presidential elections.

"None of that matters if our services are used in ways that don't bring people closer together - or if the foundation of our society is undermined by foreign interference", Zuckerberg said to investors.

"We are serious about preventing abuse on our platforms". "We're bringing the same intensity to these security issues that we've brought to any adversary or challenge that we've faced", Zuckerberg said. "Protecting our community is more important than maximizing our profits", he said. EPS (GAAP): $1.59 vs. $1.28 expected, up 77% from the year-ago period.

Facebook Inc. (FB) shares ticked up in the extended session Wednesday after the social networking company beat earnings and revenue expectations.

Softening the sting for investors, the proclamation was delivered directly following the release of a stellar& amp; nbsp;third-quarter earnings report.

The world's number one social network along with Twitter and Google is under pressure from United States politicians over its role in the last presidential election.

On Tuesday, Facebook's general counsel Colin Stretch testified to Congress that 126 million U.S. users may have seen fake news or political advertisements bought by Russian Federation in 2016. Revenue surged as Facebook benefited from strong growth in ad pricing. Facebook's advertising policies, however, have been under constant fire over the past few months after the revelation of Russian sponsored ads to induce differences between Americans during the Presidential elections.

"You have a huge problem on your hands".

The hearing was the second in Congress this week in which social media and internet firms have been called to explain how fake news and other disinformation was allowed to spread during the election campaign. "What they did is wrong, and we're not going to stand for it", Zuckerberg said.

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