Russia Who? Facebook Beats Q3 Earnings And Grows MAUs And DAUs

Here's What The Last 12 Months Looked Like For Facebook

On average, 36 analysts polled by Thomson Reuters estimated earnings of $1.28 per share for the quarter.

CEO Mark Zuckerberg resolved the concerns surrounding the company in the opening of its letter to financiers. But none of that matters if our services are utilized in ways that do not bring people closer together.

These issues come at a time when Facebook's advertising business has matured to the point that growth is becoming less reliant on increases in supply as it runs out of places where it can put ads and more on price. The Company's products include Facebook, Instagram, Messenger, WhatsApp and Oculus.

Facebook's quarterly revenue broke the $10 billion mark for the first time.

Alongside video and long-term initiatives in augmented and virtual reality, artificial intelligence, and connectivity, Facebook said "sizable security investments in people and technology to strengthen our systems and prevent abuse" would represent one of the company's major drivers of expense growth in 2018.

The increase in security comes after Facebook, along with other tech giants, Amazon and Twitter, testified before Congress about the Russian ads meddling with the USA 2016 Presidential elections.

"I've directed our teams to invest so much in security, on top of the other investments that we're making, that it will significantly impact our profitability going forward", Zuckerberg told investors during the call. Earnings per share were $1.59, above the $1.28 a share expected.

Yesterday afternoon-one day after Facebook, along with Google and Twitter, testified to U.S. Congress about the company's involvement with Russian Federation in last year's presidential election-CEO Mark Zuckerberg discussed Facebook's third-quarter earnings with investors.

The analyst added that some investors might be anxious that the probed into Russian Federation meddling with U.S. politics will result in regulation on social networks that might hurt profitability.

Investors, however, it seems did not like the profitability outlook as the stock was down in after-hours trading despite the fantastic earnings report. Facebook also said that the ads possibly reached over 126 million Americans. It now has 2.1 billion monthly users, including 500 million on Instagram, also a record high. "We're building AI to go after more different areas of harmful content and finding fake accounts and other bad actors in the system".

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