Facebook posts better than expected profits
Having warned of rising costs and slowing growth, the social media platform's profits beat analysts' expectations, while it also added users
Facebook, which had warned of rising costs and slowing growth, has reported quarterly revenue roughly in line with expectations and profit that beat analysts’ forecasts. It also added more users, despitescandals about fake news and election interference.
Third-quarter revenue rose 33 per cent to $13.73 billion, compared with the $13.8 billion analysts estimated. Profit rose to $1.76 a share, well ahead of Wall Street projections, according to data compiled by Bloomberg.
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