Total expenses came in at more than $3 billion in the third quarter, up 62 percent leap from a year earlier due to Facebook continuing to heavily invest in hiring, marketing, new technologies and other initiatives. Daily active users also climbed 17 percent to 1.01 billion, beating the Street’s expectation of 992 million. Mark Zuckerberg claims the video platform brings 8 billion views per day. The social network earned $4.5 billion in revenues (an 11.3% increase), up from $4.04 billion during the last quarter.
Advertisement
Three years ago, before Facebook went public, fewer than 500 million people were using the service on their phones.
Net income attributable to stockholders rose to US$891 million, or US$0.31 per share, from US$802 million, or US$0.30 per share.
Investors responded favorably to the news as share value is up almost four percent in after-hours trading, closing at an all-time high.
And that all amounts to a tidy profit, with revenue in excess of $4.5 billion for the third quarter of 2015.
Accelerating growth in mobile advertising helped Facebook, Inc. top revenue and profit forecasts for the third quarter, helped by an expanding user base and new services geared to marketers. Sandberg says that Facebook has certain business goals, one of which includes taking advantage of the migration of users to mobile. “So there’s a lot of room to expand that and that’s just a big opportunity for the internet overall and for India over the next decade and we hope to play a role in that”, he said.
The company said Facebook and Instagram account for one in every five minutes Americans spend online.
“Growth is happening across the board and we’re of course looking for a lot of growth in the future in emerging markets”, said Sheryl Sandberg, Facebook’s chief operating officer, to Reuters.
Advertisement
Mobile DAUs – Mobile DAUs were 894 million on average for September 2015, an increase of 27% year-over-year.
