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Facebook Reports $10.3 Billion in Revenues

04 November 2017

"We are serious about preventing abuse on our platforms".

The company's third-quarter earnings far exceeded analysts' expectations, with Facebook reporting revenue of $10.33 billion and earnings per share of $1.59.

Within the small print of the social network's impressive results, it has emerged that 10% of its 2.07bn monthly users are now thought to be duplicates of real users, or nearly double its previous estimate of 6% in the previous quarter. "We're investing so much in security that it will impact our profitability".

"Protecting our community is more important than maximizing our profits", Zuckerberg said.

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The average revenue per daily active user reached $7.51 compared to $5.95 a year ago showing a 26 per cent increase.

"For those who have followed Facebook, you know that when we set our minds to something, we're going to do it".

The world's number one social network along with Twitter and Google is under pressure from United States politicians over its role in the last presidential election.

The company said mobile ad revenue was 88% of all advertising revenue, up from 84% past year.

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Facebook continued racking up users. Zuckerberg outlined investment priorities that included video content, which he described as the biggest trend at Facebook.

Our community continues to grow, now with almost 2.1 billion people using Facebook every month, and almost 1.4 billion people using it daily.

Facebook reported cash available of $38.2 billion at the end of the quarter. The latest data on Instagram is on top of the estimated 126 million Americans exposed to Facebook posts from Russian entities seeking to create divisions during the election campaign.

Although Facebook has already seen tremendous growth over the years, there is no reason to expect that to slow down anytime soon, especially as the company continues to add to its offerings.

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"So all told, that gets you to approximately - a little less than 150 million", Stretch said in response to questioning from Democratic Senator Mark Warner.

Facebook Reports $10.3 Billion in Revenues