Facebook surpasses analyst expectations with an 11 percent rise in its third-quarter earnings. Now, the social network has 1.1 billion daily active users.
Facebook has announced its quarterly earnings along with giving us a good idea how its network is on a constant rise. For starters, the networking giant has revealed that more than 1.55 billion users now log onto Facebook at least once a month, up by 14 percent compared to the same period a year ago, and users visiting Facebook on a daily basis has gone up by 17 percent to 1.1 billion.
Meanwhile, the company’s other well-known standalone platforms that include the likes of WhatsApp, Instagram and Facebook Messenger have 900 million, 400 million and 700 million users respectively on a daily basis. Other numbers revealed during the earnings call include that Facebook users are now watching more than 8 billion video clips on a daily basis, almost double of what was recorded back in April.
In terms of Wall Street Earnings, the networking giant’s stocks saw an all-time high on Wednesday night surpassing analysts expectations. Revenue was up by 41 percent year over year to $4.5 billion, and EPS was at $0.57 surpassing analyst expectations of $0.52. As expected, analysts are rather a positive about the company’s long-term, with Instagram expected to generate more than $250 million the current quarter. Analysts are of the opinion that there lies a huge, untapped potential in both video and Facebook’s growing portfolio of apps and services, many of which operate entirely on their own from the main network that include the likes of Instagram, WhatsApp along with Oculus VR.
The networking giant’s chief operating officer Sheryl Sandberg firmly believes that Facebook and Instagram are the “two most important mobile platforms out there” for advertisers, further adding that Instagram is in the same league as Facebook in terms of targeting and scale when it comes to promoting adds on the platform.
In addition, Zuckerberg also boasted some of the company’s other achievements that include the consumer release of Gear VR, the Aquila Drone along with its own AI-powered personal digital assistant called ‘M’.