Facebook shares slip as expenses set to rise

Facebook shares slip as expenses set to rise

Facebook shares slip as expenses set to rise

Earnings were $1.59 a share, beating the consensus estimate of $1.29 and up 77%.

"Our community continues to grow and our business is doing well", said Mark Zuckerberg, Facebook founder and CEO.

At the same time, the company expects higher security costs together with investment in original video content to increase operating expenses by up to 60 percent in 2018, according to CFO David Wehner.

For Facebook, the revelation was all the more embarrassing because it had previously estimated that only around 10 million USA users had been exposed to Russian disinformation. "Protecting our community is more important that maximizing our profits".

Despite repeated warnings that revenue growth would decelerate meaningfully in the second half of the year as growth in ad load slowed, Facebook's third-quarter year-over-year ad revenue growth actually accelerated, rising from 47% in Q2 to 49% in Q3.

But CEO Mark Zuckerberg sounded a warning note, after a hard few weeks of debate around the role of rogue Russian actors trying to influence the last USA presidential election through Facebook ads and posts. We are investing so much in security that it will impact our profitability. EPS (GAAP): $1.59 vs. $1.28 expected, up 77% from the year-ago period.

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Here is a look at each of Facebook's earnings report dating back to the third quarter of 2016, courtesy of Statista.

The analyst added that some investors might be anxious that the probed into Russian Federation meddling with U.S. politics will result in regulation on social networks that might hurt profitability.

But Facebook's investment in platform security goes far beyond that, as Zuckerberg explained on Wednesday.

Mobile advertising revenues continue to be dominant contributor to ad revenues as it represented 88 percent of advertising revenue for the quarter, up from 84 percent previous year.

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. Facebook Inc (FB) now boasts of over 2 billion monthly users, an increase from 1.7 billion a year ago. The Senate Intelligence Committee has also questioned representatives from Google and Twitter. "You've created these platforms, and now they are being misused, and you have to be the ones to do something about it, or we will".

"I'm dead serious about this", Zuckerberg said.

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