Facebook also reported 2.07 billion monthly active users during the quarter, which also beat estimates of 2.06 billion.
Facebook CEO Mark Zuckerberg did a "masterful" job discussing the impact of Russia's election meddling during the company's post-earnings conference call, CNBC's Jim Cramer said Thursday.
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 insecurity that it will impact our profitability. Daily users also climbed 16 per cent to 1.37 billion.
Zuckerberg opened today's incomes call with a highly worded guarantee to mark out making use of Facebook for undermining democracy in the U.S. On Russia's use of the social network throughout the 2016 election he stated, "exactly what they did is incorrect, and we are not going to stand for it". Quarterly advertisement revenue has more than doubled since 2015, and is rising at more than 40 percent year over year.
The company says it's getting better at targeting ads at its users and that's helped push up how much it charges for ads.
The company's share price is already trading at a 52-week high and these earnings will only send the stock soaring even higher.
If you think back to about two years ago, Facebook had about 12,000 people and regarded this diminutive size, compared to players such as Apple and Google, as a kind of virtue, enabling it to be nimble and stick close to its start-up roots.
Facebook announced recently that the company will be doubling the number of employees working on safety and security issues to 20,000 by the end of 2018. However, by the third quarter of 2017, its headcount has grown to 23,165 people, possibly driven by the need to police its social network for fake news and political interference.
Facebook was at the center of news today, affirming in front of the lawmakers in Washington DC about how state participants like Russian Federation used its platform to attempt and change the outcome of the 2016 U.S. election. "Instagram has clearly contributed to Facebook's numbers this quarter and will continue to do so in the future". In the third quarter of 2017, Facebook incurred capital expenditure of $1.76bn. "We will continue to invest aggressively in the many opportunities we see ahead", Facebook CFO David Wehner said during an earnings call with analysts. Fake accounts increased from 1pc to 3pc.