Facebook Announces Third Quarter Results

Published on: 30 Oct, 2018

Facebook, Inc. (NASDAQ: FB) reported financial results for the third quarter 2018.  Daily active users were 1.49 billion, a 9% increase year over year.  Mobile advertising revenue which represented 92% of advertising revenue this quarter is up 88% from the advertising revenue in q3 2017.  Capital expenditures were $3.34 billion.

"Our community and business continue to grow quickly, and now more than 2 billion people use at least one of our services every day," said Mark Zuckerberg, Facebook founder and CEO. "We're building the best services for private messaging and stories, and there are huge opportunities ahead in video and commerce as well."

Capital expenditures for the third quarter of 2018 were $3.34 billion.  The company also iterated that over 2.6 billion people use Facebook, WhatsApp, Instagram, or Messenger each month as well as over 2 billion people use one of those “Family of Services” every day on average.

The effective tax rate was 13%, lower than expected due to the withdrawal in August of an appellate court ruling in the case of Altera Corp. v. Commissioner.

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Marco Zhou

Email: Marco@financialinsiders.com

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