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Facebook’s Q3 Profit, Revenue, and User Growth All Beat Estimates

Wednesday, November 2, 2016 13:41
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(Before It's News)

facebookSocial media giant Facebook Inc (NASDAQ:FB) late today posted better-than-expected third quarter earnings results, as profit, revenue, and user growth all beat estimates.

The Menlo Park, CA-based company reported Q3 EPS of $1.09, beating Wall Street’s $0.97 estimate by a full 12 cents. Revenue surged 55.8% from last year to $7.01 billion, also topping analysts’ view of $6.92 billion.

Facebook said that daily active users (DAUs) rose 17% from last year to 1.18 billion, beating expectations for 15% growth. Mobile daily active users (MDAUs) jumped 22% to 1.09 billion. Meanwhile, monthly active users of its namesake platform rose 16% to 1.79 billion, topping estimates for a 13% gain. Mobile MAUs rose to 1.66 billion.

On the all-important advertising front, mobile advertising revenue represented 84% of Q2’s total revenue, which missed expectations for 85%. This suggests FB’s mobile ad growth may be slowing, although with total revenue surging so much, it shouldn’t be too much of a concern.

Facebook also noted that capital expenditures in Q3 were $1.10 billion, with cash and cash equivalents on the books of $26.14 billion at the end of the period.

The company commented via press release:

“We had another good quarter,” said Mark Zuckerberg, Facebook founder and CEO. “We’re making progress putting video first across our apps and executing our 10 year technology roadmap.”

Facebook shares were up slightly amid whipsaw action in after-hours trading Wednesday. Prior to today’s report, FB had gained nearly 22% year-to-date, which is more than six times the return of the benchmark S&P 500 in the same period.

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