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Facebook nearly triples Q3 profit on ad revenue surge
2016-11-02 22:52:00| Telecompaper Headlines
(Telecompaper) Facebook reported a strong increase in revenues and profitability in the third quarter, driven by growth in its ad revenues as well as more users of the social network. Revenues were up 56 percent year-on-year to USD 7.011 billion, of which 84 percent was ad revenues, up from 78 percent a year ago. Operating profit more than doubled, to USD 3.122 billion from USD 1.459 billion, and the margin rose to 45 percent from 32 percent a year earlier. The company's net profit jumped to USD 2.379 billion or 82 cents a share from USD 896 million or 31 cents a share. Facebook reported 1.79 billion monthly active users for the period, up 16 percent year-on-year, and 1.66 billion were mobile users, a 20 percent annual increase.
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Category:Telecommunications