“For now, the revenue picture for Facebook looks as good as can be expected,” said eMarketer analyst Debra Aho Williamson. The company’s shares rose 2.5% in after-hours trading after closing up 1% for the day.
The results exceeded analyst expectations for Facebook’s results. That’s up from $7.85 billion a year earlier. The company’s latest show of financial strength followed an avalanche of reports on the Facebook Papers - a vast trove of redacted internal documents obtained by a consortium of news organizations, including The Associated Press - as well as Facebook whistleblower Frances Haugen’s Monday testimony to British lawmakers.įacebook said its net income grew 17% in the July-September period to $9.19 billion, buoyed by strong advertising revenue.
Amid fallout from the Facebook Papers documents supporting claims that the social network has valued financial success over user safety, Facebook on Monday reported higher profit for the latest quarter.
