Facebook Sales Top Estimates, Fueled by Mobile Advertising
Facebook notched another quarter of revenue that beat estimates after stepping up its mobile-advertising efforts.
The company running the world’s biggest social network reported third-quarter sales of $4.5 billion, compared with the $4.37 billion average analyst estimate, according to data compiled by Bloomberg. Monthly users jumped 14% to 1.55 billion, with 1.01 billion people logging on daily to check on other people and share status updates, the company said in a statement Wednesday.
Facebook brought its full marketing firepower to Instagram for the first time in the quarter, while boosting the number of video ads on its main application. The company has been working to improve the quality — and therefore the price — of ads as CEO Mark Zuckerberg invests in newer initiatives, from WhatsApp to scientific projects such as virtual reality and artificial intelligence.
