Facebook reported third-quarter earnings today that surpassed Wall Street estimates for a fourth consecutive quarter. The social media company reported total revenue up 56% to $7.01 billion, or $1.09 earnings per share, while advertising revenue grew to $6.82B, up 59% year-over-year. Both numbers smoked analysts’ estimates.
Facebook’s shares which were down 2.33 points during the regular session are picking up after after the bell, when it reported its earnings.
There’s not too much to complain about. Facebook reported that its monthly average users jumped to 1.79 billion in the quarter. Its total income for the quarter ending September 30 was $2.38B — that’s up 166% over Q3 2015’s $896M. Mobile ad revenue is now 84% of total advertising revs, according to the earnings report, up 78% year-over-year.
Capital expenditures were at $1.1B.
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