Facebook Passes One Billion Daily Users in Strong Third Quarter
The 11-year-old social network came off a strong second quarter, during which it earned 50 cents per share on revenue of $4.04 billion.
Facebook earned 57 cents per share, excluding some expenses, during the third quarter on revenue of $4.5 billion, up 41 percent from the same period last year.
The company's performance bests Wall Street's predictions. Analysts polled by Thomson Reuters were expecting Facebook to report net income of 52 cents per share on revenue of $4.37 billion.
Daily active users of the social network grew 17 percent year-over-year to 1.01 billion on average during the month of September. Mobile made up a big chunk of those users, growing 27 percent year-over-year to 894 million DAUs on average in September. Meanwhile, monthly active users were up 14 percent to 1.55 billion during the quarter. Mobile MAUs were up 23 percent to 1.39 billion during the period.
Total expenses also grew, rising by 68 percent to $3 billion during the quarter.
"We had a good quarter and got a lot done," said CEO Mark Zuckerberg. "We're focused on innovating and investing for the long term to serve our community and connect the entire world."
Facebook has placed an emphasis on mobile in part through a suite of apps that include acquisitions Instagram and WhatsApp. Photo sharing app Instagram announced in September that it has grown to 400 million users and messaging app WhatsApp announced the same month that it has reached 900 million users.
The 11-year-old social network is coming off a strong second quarter, during which it earned 50 cents per share on revenue of $4.04 billion.
Facebook shares closed the day up more than one percent to $104 on the Nasdaq. Following the earnings report, shares were up more than two percent during after-hours trading.