2018-10-31
The results of Facebook business on Tuesday showed more than expected earnings in the third quarter of 2018, but the results came below estimates for the number of active users per month, and revenues that recorded the slowest pace of growth in nearly 6 years.
 
This comes at a time when social networking is trying to recover from privacy and content challenges.
 
The company's quarterly profit was $ 5.14 billion, or $ 1.76 per share, up 9 percent year-on-year, above the median forecast of $ 1.48 a share.
 
According to Reuters, total third-quarter revenue was $ 13.73 billion, up 33 percent from the same period last year, below analysts' median estimate of $ 13.78 billion.
 
The number of users of Facebook's main active monthly and daily basis grew by 10 percent to 2.27 billion and 9 percent to 1.49 billion respectively. Estimates were estimated at 2.292 billion and 1.508 billion according to the average estimates in Reventiv data.
 
Total expenditures in the third quarter increased to $ 7.95 billion, up 53 percent year-on-year