Facebook posted a net profit of $3.1 billion for the quarter ended September 2016, showing a 114% year-over-year growth from profits of $1.4 billion in the same quarter last year. Net income grew 166% YOY with $2.3 billion from $896 million in the corresponding 2015 quarter. Note that Facebook’s net profit was $2.05 billion in the previous quarter. For the September ended quarter, the company’s ad revenues were $6.8 billion, a 59% year-over-year change from $4.2 billion in the same quarter last year. Operating metrics: - Daily active users (DAUs) – 1.18 billion for September 2016, an increase of 17% YOY - Mobile DAUs – 1.09 billion for September 2016, an increase of 22% YOY - Monthly active users (MAUs) – 1.79 billion as of 30 September 2016, an increase of 16% YOY - Mobile MAUs – 1.66 billion as of 30 September 2016, an increase of 20% YOY Financials: - Mobile advertising revenue represented 84% of advertising revenue for the third quarter of 2016, up from approximately 78% of advertising revenue in the third quarter of 2015. - Capital expenditures were $1.10 billion. - Cash, cash equivalents and marketable securities were $26.14 billion at the end of this quarter. Video first focus Mark Zuckerberg, the founder and CEO of Facebook said that 1.8 billion people were using Facebook monthly and 1.2 billion people daily. He added that total revenues were growing 56% YOY to $7 billion and ad revenues were up 59% to $6.8 billion. The company will continue…
