Facebook revenues up 47% while net profit grows by 79%
03 November, 2017, 00:14 | Author: Elaine Woods
Still, considering its revenue rose almost 50% to $10.3 billion, this past quarter, Facebook has money to burn.
Facebook Inc (NASDAQ:FB) reported its third-quarter results on Wednesday which showed the company smashing through expected earnings as the company's $1.59 earnings per share were well above the $1.28 that was expected by analysts.
Chief executive Mark Zuckerberg used the update to address criticism of Facebook for allowing disinformation and manipulation during the 2016 USA presidential election, hours after the company's top lawyer faced a grilling at a Washington congressional hearing.
"Our community continues to grow and our business is doing well", said Mark Zuckerberg, Facebook founder and CEO. The company also said it will significantly increase spending on security and expects this to drag down profitability going forward.
"I would note that, compared to a year ago, price is a much more important driver of our ads revenue growth", Facebook CFO David Wehner said. Analysts surveyed by FactSet had estimated $1.28 a share on revenue of $9.85 billion.
With apparently no influence of the ongoing hearing regarding its role in Russian Federation meddling, Facebook late on Wednesday published its financial results for the quarter that ended on September 30, reporting that its profitability hit $4.7 billion mark and earned $10.3 billion in revenue compared to an estimate of $9.84 billion.
Nadal to finish 2017 as World number one
Sky Sports will have the action from the final Masters 1000 tournament of the year in Paris all this week. Nadal celebrates his victory and said: "I never dreamed of being world No.1 at the end of the season".
Fox kept O'Reilly despite harassment suit
The latest woman to accuse O'Reilly is Lis Wiehl, who had been a legal analyst for the network for 15 years. O'Reilly claimed to the New York Times that he "never mistreated anyone" and claimed he could "prove it".
But Facebook's investment in platform security goes far beyond that, as Zuckerberg explained on Wednesday. The latest user numbers: Facebookdaily active users were up 16% to 1.37bn, while monthly active users were up 16% to 2.07bn.
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 has acknowledged that its growth rate is slowing down, but now the company is shifting its focus to increase user engagements with videos and its new subscription platform, which can generate even more profits.
Facebook general counsel Colin Stretch told a hearing that Instagram posts by suspect Russian accounts were seen by some 20 million Americans previous year. The Senate Intelligence Committee has also questioned representatives from Google and Twitter. Facebook's advertising policies, however, have been under constant fire over the past few months after the revelation of Russian sponsored ads to induce differences between Americans during the Presidential elections.
"I asked specific questions, I got vague answers, and that just won't do", she told the companies. "You've created these platforms, and now they are being misused, and you have to be the ones to do something about it, or we will".
The one challenge the popular social media website faces is how it will be able prevent fake news, and how that could impact the company's operations. What they did is wrong and we're not going to stand for it.
Sophia even cracked a joke, "Why did the robot cross the road?" "Well let me ask you this back, how do you know you are human? ". Asked whether robots could and should become self-aware, and "conscious like humans ", Sophia went on the defensive.
Completed a memorable hat-trick and a famous victory over Pep Guardiola's Bayern after pouncing on a mistake in the 89th minute. Fernandinho will look to protect the backline, with Ilkay Gundogan and Kevin De Bruyne adding creativity.
WhatsApp will also facilitate instant money transfer via the Unified Payments Interface (UPI) transaction system soon. Apps like Snapchat, WhatsApp , Facebook and Instagram have been increasingly "borrowing" features off one another.
President Trump said he has ordered Homeland Security to "step up" the vetting of immigrants in light of Tuesday's attack . The decision is because of the NY bombing that killed 8 people and injured 11.
These conditions will continue to into much of Monday , along with daytime highs in the middle 50s to 60 degrees. The cloud cover will allow for a mild night ahead, overnight lows will fall to the middle and upper 50s.
Halperin has denied grabbing a woman's breasts and pressing his genitals against three of the women who spoke out. One woman said she visited Halperin in his ABC office in the early 2000s when he forced himself on her.
Dodging the question, she replied: "I'm telling you he was a volunteer member of an advisory council that literally met one time". "What the Clinton campaign did, what the DNC did was actually exchange money, they took a meeting", Sanders said .
In total, they analysed genetic data from 275,000 women, of whom 146,000 had been diagnosed with breast cancer . Others, known as oestrogen-receptor negative, are not affected by the hormone and are more hard to treat.
Markelle Fultz Out At Least Three Weeks With Shoulder Injury
Fultz never looked right to begin the season and it's not a surprise to see Philly take a cautious route with the No. 1 pick. I kept wondering how they knew three games would heal a shoulder when they weren't completely sure what the problem was.
Russian Federation successfully tests nuclear-capable missiles
Three missiles were fired from submarines and one was sacked from a ground station at the Plesetsk cosmodrome, north of Moscow . The rocket was sacked from the Plestek Cosmodrome spaceport, roughly 500 miles north of Moscow , ministry officials said.
Khloe Kardashian is 'having a boy'
All of us are together, so it's not like I have to sit each one down and say, 'OK, when you grow up, or when you have a baby'. However, after breaking the news, the interviewer assured readers that "after a long pause. she reassures me she's joking".