Facebook’s 1 billion users per day

Facebook has emphasised its video content a lot this year, and it seems it has been successful in convincing marketers to get on board.

Facebook reported a 11% jump in profit for the third quarter as it witnessed a spike in revenue from ad sales.

For the third quarter, Facebook reported net income of $896 million USA, or 31 cents a share, up from $806 million US, or 30 cents per share a year earlier.

Facebook, propelled by its expansive advertising machine and enormous user base, has consistently been a bright spot for technology earnings.

Ad revenue grew 45.4 percent to Dollars 4.30 billion, with 78 percent of that coming from mobile versus 66 percent in the year-ago quarter. There were 1.55 billion individual visits during September, 1.39 billion of which were on mobile devices. I for one welcome our new social media overlords. While USA stocks in general were lethargic in early Thursday trading, shares of Facebook spiked as much as 5.8 percent to hit an intraday high of nearly $110 (it’s up 4.57 percent to $108.70 and climbing at the time of this writing).

Facebook are basically on course to take over the world, at least that’s according to new data from their Quarter 3 results this week. Both these numbers are 40 percent more over the same period of the previous year.

On Video: “On average, there are now more than eight billion daily video views on Facebook and more than 500 million people who are watching daily”, Facebook CEO Mark Zuckerberg told analysts.

Facebook chief Mark Zuckerberg said the company was “focused on innovating and investing for the long term”.

The best part is, a lot of the areas where the company spent could end up making Facebook even more money in the future.

Revenues were up 41% as compared to the same quarter previous year. Facebook has also bought Oculus VR, the virtual reality hardware startup, for roughly $2 billion, but it has not begun to sell the virtual reality goggles made by the unit.

Advertising generates more than 90 per cent of earnings for the company. The idea behind the app is to help users remain up to date with breaking news, as it delivers notifications.