Facebook Reports $7 Bn Revenue In Third Quarter

Posted: Nov 3 2016, 1:37am CDT | by , in Latest Business News


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Facebook Reports $7 bn Revenue in Third Quarter
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Social media giant Facebook scored big in the third quarter of this year, reporting $7.01 billion in revenue and its daily active users (DAUs) stood at 1.18 billion on average as of September 2016, an increase of 17 per cent year-on-year.

Mobile advertising revenue represented approximately 84 per cent of advertising revenue for the third quarter of this year, up from approximately 78 per cent of advertising revenue in the third quarter of 2015.

Capital expenditures were $1.10 billion, cash and cash equivalents and marketable securities stood at $26.14 billion at the end of the third quarter of this year.

"We had another good quarter. We are making progress putting video first across our apps and executing our 10 year technology roadmap," said Mark Zuckerberg, Facebook founder and CEO, in a statement.

The company's mobile DAUs were 1.09 billion, an increase of 22 per cent year-over-year and its monthly active users (MAUs) were 1.79 billion, an increase of 16 per cent year-over-year.

Mobile MAUs stood at 1.66 billion, an increase of 20 per cent year-over-year.

"Despite the successful quarter, Facebook share price sank about 7.6 per cent in after-hours trading to around $117.40, versus an all-time high of $133.50 late last month," technology website Techcrunch.com reported on Thursday.

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