Despite a lot of negative press and unwanted media attention due to the US election scandal (and investigation), Facebook are showing no signs of slowing down.
The Q3 earnings were released today and things are looking great for the social media giant.
Here are some of the top line highlights:
- $10.1 billion in revenue for Q3
- Revenue up 49% on the same quarter in 2016
- $4.7 billion profit for Q3
- Profit up 79% from the same period in 2016
- Operating margin up 50%
- Both Instagram Stories and WhatsApp Status surpassed 300 million MAUs (Monthly Active Users)
- 1.3 billion people use Facebook every day and
- 2 billion people use it monthly
These are some crazy stats. Particularly as Facebook has been warning us since 2015 that they would (and have) hit their ad limits.
The only warning that has come from Facebook regarding the Q3 report is that expenses are expected to rise in 2018 as they double the number of employees that work on policing the platform. This is, of course, in response to the security concerns following the Russia collusion allegations (let’s face it, they are more than just allegations).