Looks like bad PR, continued misinformation allegations and congressional hearings have had not impact on Facebook’s business whatsoever. The company reported its Q3 earnings a few moments ago, and all seems to be heading in green in terms of every possible figure that could be reported.
To start with, revenue is on an uptick with 29% year over year increase compared with previous years. Facebook total revenue stands at $17.6 Bn for Q3 2019, up 29% from the $13.7Bn in the same quarter in previous year. The number also beats Refinitiv’s consensus estimates of $17.37. In terms of EPS, the company reported $2.12 in EPS, beating estimates of $1.91.
Coming to users, Facebook reached 2.45 billion monthly users, up 1.65 percent from the 2.41 billion it had in Q2 2019 when it grew 1.6 percent, and up 8% from a year over. The company now has 1.62 billion daily active users, up 2 percent from 1.587 billion last quarter when it grew 1.6 percent., up by an impressive 9% compared with previous year.
“We had a good quarter and our community and business continue to grow,” said Mark Zuckerberg, Facebook founder and CEO. “We are focused on making progress on major social issues and building new experiences that improve people’s lives around the world.”
In terms of Cash and cash equivalents and marketable securities, the company has $52.27 billion in possession as of September 30, 2019. Headcount too rose by 28% year over year to 43,030.
At the time of publishing, Facebook shares rose to 1.69% in after-hours trading to $191.71 after earnings were announced, following a day where it closed down 0.56% at $188.25.
The “anonymous guy” behind the desk who keeps pushing press releases and sponsored content on our site.
P.S. Don’t go to the profile pic on the left, we keep trolling one of our own writers with this… :p