Mark Zuckerberg, Facebook Owner announced the quarterly results of the company. The Q3 results of year 2017 were a huge hit. Facebook quarterly profit rise to $4.7 billion. Despite the Russian issue, the tech giant has witnessed a top quarterly figures. Facebook Q3 Revenue Topped $10bn for the First Time.
The social media giant faced a harsh criticism in Washington as it failed to prevent Russian operatives from using Facebook for election meddling. However the quarterly earning report showed that Zuckerberg’s business remains insulated from political risks.
Facebook Q3 Revenue Topped $10bn for the First Time
Zuckerberg revealed that the quarterly profit of Facebook rose to 79 percent and revenues were up to nearly 50 percent. This is due to the marketers who invested money into Facebook advertising. The CEO of Facebook condemned the Russia’s attempts to influence elections through Facebook posts.
While about Russia’s issue, Zuckerberg said:
“What they did is wrong, and we are not going to stand for it,”
Zuckerberg also said that Facebook’s priority is to protect community than maximizing profits. He also revealed that they have invested so much in security that it will impact their profitability.
Facebook’s total advertising revenue rose 49 percent in the third quarter to $10.14 billion, about 88 percent of which came from mobile ads. Analysts had expected the total revenue of $9.71 billion.
In third quarter Facebook gave advertisers ability to run ads in standalone videos and outside the Facebook News Feed. The company has seen very good early results of it.
Sheryl Sandberg, COO, Facebook said:
“Video is exploding, and mobile video advertising is a big opportunity. More than 70 percent of ad breaks up to 15 seconds long were viewed to completion, most with the sound on.
Zuckerberg revealed that Facebook would be spending heavily in making the Watch tab a place where “people want to talk and connect around,” rather than a spot to passively consume programs.
Facebook plans to add 10,000 more employees to aid its safety and security efforts by the end of 2018. Here is the Full Report of Facebook Q3 earnings .
Also Read: Facebook is Testing 4K Video Uploads