Facebook posts surge in third quarter profits

Facebook crossed a significant milestone last month: On average, the service now sees more than one billion users every single day – 1.01 billion, to be precise.

“Our results show that we continue to make progress on our three priorities, capitalizing on the shift to mobile, growing the number of marketers using our ad products, and making our ads more relevant and effective”, Sandberg said.

“We’re just so early in this right now”, CEO Mark Zuckerberg said when asked about video on the call.

Facebook passed 1 billion active daily users in the third quarter, an increase of 17 percent year-on-year and up from 968 million in the previous quarter. However, the app is expected to bring in US$595 million in mobile advertising revenue this year, research firm eMarketer said.

Better yet, monthly active users increased 14% to 1.55 billion, and for the first time Facebook, surpassed 1 billion users logging on a daily basis.

Facebook has passed 1.5bn monthly users for the first time in its history, the world’s biggest social network said, as it smashed Wall Street expectations to post an 11pc increase in profits.

Image courtesy of Shutterstock.

Advertising revenue surged 45 per cent to $4.30 billion.

Rather than people leaving the site, it grew even larger, with a spike in mobile users and advertising that lifted its stock to an all-time high.

It also has 50 million users of Facebook Light, a version of the platform for people without a good internet connection.

Adjusted earnings per share (EPS) was $0.57, slightly above the analysts’ prediction of $0.52.

Revenues at the social media giant were 40% higher than the 3.2 billion dollars announced in the same period a year ago.

Facebook’s spending of $3.0 billion is an sixty eight percent compared to last year’s third quarter and that actually did not seem to worry either the investors or the analysts.