Facebook scores big in Q3 earnings
Social media giants destroy analysts estimates with Q3 figures
by Abi Moses on 15th November, 2016
"We had another good quarter," explained Mark Zuckerberg, Facebook founder and CEO.
"We're making progress putting video first across our apps and executing our 10 year technology roadmap" he continued.
Showing an amazing result of 1.79 billion monthly users, the network has enjoyed an increase of 3.63% from the last quarter, up 16% year-over-year. Daily active users has also risen by 0.5%, hitting a billion-user milestone as it reached 1.055 billion mobile-only users.
While expected to break records the extent of their success was greatly undermined by analysts, destroying estimates of $6.92 billion in revenue and $0.97 EPS. However, the social media business' share price is down due to them hitting maximum ad load which will inevitably reduce revenue growth.
Mobile has certainly been the focus of the last quarter, making up 84% of advert revenue; a figure that has risen 78% when compared to 2015. So, why is the share price down?
'The slip reflected doubts among investors that the company can continue its runaway success, even as it reported strong mobile ad numbers and steady growth in its enormous network, which ticked up to nearly 1.8 billion monthly users in the latest quarter.'
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