Facebook earnings beat expectations in Q3Posted by Bernet International on October 31st, 2019 Facebook has impressed investors with their third quarter financial report. The social media giant posted earnings per share that beat analysts’ expectations which were heavily increased by a 28% rise in advertising revenue, despite current controversies surrounding the companies handling of data, political ads, and cryptocurrency plans. Mark Zuckerberg, CEO and founder of the social media giant said in a statement "We had a good quarter and our community and business continue to grow, we are focused on making progress on major social issues and building new experiences that improve people's lives around the world." Wall Street analysts had expected that Facebook’s strong advertising sales would offset the company’s current battles against its data practices, crypto currency experiment, and advertising policies. Analysts noted that Instagram and its users have become a “virtual money printing press” for Facebook, enabling businesses to boost posts as advertisements for a fee. Masako Hekima – Bernet International Like it? Share it!More by this author |