Facebook revenues up 47% while net profit grows by 79%

Facebook

Net income was $4.7 billion.

Zuckerberg was vehement about how disappointed he was that Russian entities used Facebook ads to try to influence Americans during the presidential campaign.

"None of that matters if our services are used in ways that don't bring people closer together - or if the foundation of our society is undermined by foreign interference", Zuckerberg said to investors.

The UK newspaper said the disclosure could lead to Facebook coming under increased scrutiny about the accuracy of its data and it comes as the company, along with other social media giants, came under pressure this week to explain whether their platforms spread fake news during the USA presidential election. But Zuckerberg also said he was "dead serious" about fixing security and that doing so "will significantly impact our profitability going forward".

He went on to stress that protecting Facebook's community was "more important" than boosting profit. The profits of the firm can be attributed to online ads in the third quarter and topping investor forecasts.

"Sometimes it just takes a trigger event to cause a bunch of people to take their profit and go someplace else, especially if they have decided this is as good as it is going to get at Facebook for a while". Intense words, although perhaps what you would get out of a CEO on a day when more than one lawmaker threatened to more greatly regulate Facebook if it couldn't police itself well enough to prevent intervening in US elections. Expenses rose to $5.2 billion from $3.9 billion in the same quarter previous year, and headcount at the company was up 47 percent to 23,165 employees. According to the results, 10pc of Facebook's 2.07bn monthly users are duplicate accounts. Zuckerberg outlined investment priorities that included video content, which he described as the biggest trend at Facebook. The number of daily active users has also increased in the third-quarter to be around 1.4 billion.

Facebook Inc (FB) revenue from advertising, which increased 49%, has been the major contributor of Facebook Inc (FB)'s overall revenue.

Facebook reported cash available of $38.2 billion at the end of the quarter. The company said consistently today that it is doubling the number of workers committed to policing its platform for things like child porn, terrorism, or state-sponsored electioneering. "We now discovered, in the last 48 hours, 120,000 Russian-based posts on Instagram", Stretch told the Senate Intelligence Committee hearing.

Related news:

Hot News

isis-killer-beheading-video-story-top Bitcoin Hits New Threshold as Its Price Breaks Record of $7000
Nov 04, 2017 - 00:14
The CME Group, the world's largest derivatives operator said Tuesday that it would introduce bitcoin futures contracts .

isis-killer-beheading-video-story-top Qualcomm shares surge 15% on talk of takeover by Broadcom
Nov 04, 2017 - 00:12
Apple contends Qualcomm is unfairly charging too much and illegally taking advantage of its market position in chips. Aside from the financial challenges of such a large deal, Broadcom may also encounter close regulatory scrutiny.

isis-killer-beheading-video-story-top Galaxy S8, S8+ Oreo beta launches with Experience 9.0 program
Nov 03, 2017 - 00:17
Samsung hasn't officially confirmed when it plans to release the first beta, but we may already have the details. There are a bunch of Nougat features that are still present in addition to the new Oreo features.

isis-killer-beheading-video-story-top Trump labels USA justice system 'laughing stock'
Nov 02, 2017 - 00:10
And Omar Mateen, who killed 49 people in the Pulse nightclub in Orlando in 2016, was born in NY to Afghan parents. Terrorist attacks are fine as long as they suit Trump's agenda. "It sounds nice.

isis-killer-beheading-video-story-top Trump Says New York Suspect's Visa Was a 'Chuck Schumer Beauty'
Nov 02, 2017 - 00:08
Uber confirmed that he drove more than 1,400 trips in six months, but the company said they have removed him from the service. Lindsey Graham, R-S.C., called on the president to treat the alleged attacker as an enemy combatant.

isis-killer-beheading-video-story-top CalAtlantic Group, Inc. (NYSE:CAA) Reaches Overbought Range
Nov 01, 2017 - 00:13
On October 31, 2017 the stock rating was set at " in a report from Wedbush which was a cut from the previous "Outperform" rating. For CAA , the company now has $129.07 Million of cash on the books, which is offset by $120.13 Million current liabilities.

isis-killer-beheading-video-story-top 'SA recommended for 2023 rugby world cup'
Nov 01, 2017 - 00:11
In the bid criteria, South Africa led in venues and host cities, tournament infrastructure, and organization and schedule. The IRFU will be waiting anxiously for the 11am announcement‚ which is a crucial step towards winning the World Cup bid.

isis-killer-beheading-video-story-top Cubs coach will be next Nationals manager
Oct 30, 2017 - 01:38
The 53-year-old Martinez was considered the front-runner to replace Dusty Baker , who was sacked last week after two seasons. He has been working as the bench coach for skipper Joe Maddon with the Chicago Cubs and, before that, the Tampa Bay Rays .

isis-killer-beheading-video-story-top OnePlus 5T promo leaked, full image and launch date revealed
Oct 30, 2017 - 01:38
According to the site, the device will be powered by a Snapdragon 835 processor and features a 6-inch QHD Full HD+ display. This once again confirms the fact that the smartphone will be featuring an extended display with 18:9 aspect ratio.

isis-killer-beheading-video-story-top Study Found That Formula in Baby Food Tested Positive For Arsenic,…
Oct 28, 2017 - 00:38
It also stated that some products labelled certified organic had higher amounts of mercury and lead than conventional baby foods. Sixty percent of the formulas that claimed to be BPA free tested positive for BPAs.

Oil price high as Brent Crude hits $60 a barrel
Oct 28, 2017 - 00:36
Last week, the EIA said, Iraqi exports came in at 1.072 million barrels per day, versus 569,900 barrels per day from Saudi Arabia. Crude oil continues to rally, with Brent crude climbing to $60/bbl for the first time in more than two years and U.S.

isis-killer-beheading-video-story-top MSNBC Political Analyst Accused Of Harassing 5 Women, Quits Job After Apology
Oct 27, 2017 - 00:14
Another woman says Halperin cornered her as she exited a bathroom, propositioning her to enter another bathroom. We are going to be following this story as it develops.

isis-killer-beheading-video-story-top Astros Cameron Maybin steals a base, now you can steal a taco
Oct 27, 2017 - 00:10
Taco Bell says it's given away millions of free tacos since it began the " Steal a Base, Steal a Taco " gimmick. One of those reasons was not America winning free tacos via stolen base, but, hey, that happened, too.

isis-killer-beheading-video-story-top Weinstein assaulted me in child's room, says production assistant Mimi Haleyi
Oct 26, 2017 - 00:17
While Haleyi did not disclose exactly how old she was at the time of the alleged attack, she was reportedly in her 20s. "I knew nothing", the actress told PEOPLE at an event for Allergan's CoolSculpting in New York City on Tuesday night.

isis-killer-beheading-video-story-top The Kardashians Re-Sign With E! for $150 Million
Oct 26, 2017 - 00:13
Kim is also expecting a child: her surrogate is reportedly six months pregnant with a baby girl due in late January. Just seeing her be able to do something so creative with [her denim line] Good American - that's her passion.