Facebook's Q3 numbers beat expectations with $2.02 billion in revenue

Facebook logoAfter a yearlong slump, Facebook finally rebounded above its IPO strike price in August on the heels of strong second quarter earnings. Analysts were expecting another solid showing, with Wall Street predicting Facebook would generate $1.91 billion in revenue and earnings of 18 to 19 cents a share. Instead it delivered $2.02 billion in revenue and earnings of 25 cents a share. The stock is up 8 percent in after-hours trading.

The narrative that has attracted investors to Facebook since last quarter was its growing strength in mobile. Before its IPO, the social network flagged the transition from desktop to mobile as one of its weak areas. It had built its business around the display ads shown next to and eventually in the news feed. Mobile was largely uncharted territory, and that's where its users were headed.

But last quarter Facebook said 41 percent of its revenue came from mobile, up from 31 percent the quarter before. "We’ve made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile," CEO Mark Zuckerberg said in a statement. "The work we’ve done to make mobile the best Facebook experience is showing good results and provides us with a solid foundation for the future." This quarter that number grew to 49 percent.

Last quarter Facebook's daily active users, another important benchmark for the social network's health, was up 27 percent to 699 million. This quarter that number reached 728 million and 1.19 billion monthly active users. That compares to just 230 million active monthly users for its soon-to-be public rival, Twitter.

Investors will be listening closely on the earnings call for clues about how two very important new products from Facebook — video and Instagram ads — will work when they launch in the next few weeks. We'll be updating live during the call.

On the earnings call Sheryl Sandberg says Facebook and Instagram account for one out of every five minutes Americans spend on the mobile web. This represents a bigger share of people's time than YouTube, Twitter, Tumblr, Snapchat, LinkedIn, AOL and Yahoo combined, Sandberg claims.

When asked about video ads Zuckerberg replied that Instagram has taught the company people don't mind clips that autoplay. Hard to imagine users would feel the same way about Instagram video ads.

Source: The Verge

Tags: Facebook, report, social networks

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Consumer group recommends iPhone 8 over anniversary model
 
LTE connections wherever you go and instant waking should come to regular PCs, too
 
That fiction is slowly becoming a reality
 
The Snapdragon 845 octa-core SoC includes the Snapdragon X20 LTE modem
 
Human moderators can help make YouTube a safer place for everyone
 
Google says Progressive Web Apps are the future of app-like webpages
 
All 2018 models to sport the 'notch'
 
The biggest exchange in South Korea, where the BTC/KRW pair is at $14,700 now
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
     12
3456789
10111213141516
17181920212223
24252627282930
31      




Poll

Do you use microSD card with your phone?
or leave your own version in comments (4)