Facebook Registers Soaring Ad Revenues, Mobile Dominates

Facebook's third-quarter results witnessed an increase of nearly 49% to $10.1 billion, up from $6.8 billion.

The company now says mobile advertising revenue represents about 88% of all advertising revenue -- up from approximately 84% of advertising revenue in third-quarter 2016.

With regard to recent high-profile security issues -- including Russian bot accounts on the social media site -- Mark Zuckerberg, chairman/CEO of Facebook, stated: “Protecting our community is more important than maximizing our profits.”

On CNBC, before the financial release, Brian Wieser, senior research analyst for Pivotal Research Group, worried that Facebook may soon hit a wall when it comes to advertising business results.

He said Facebook faced headwinds of slow growth for the overall advertising industry market, as well as possible regulatory oversight in light of security issues over political advertising.

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Facebook says daily active users grew 16% year-over-year to 1.37 billion on average for September 2017; monthly active users were 16% higher to 2.07 billion.

Marketing costs for Facebook rose 29% to $1.2 billion during the period.

Overall revenue gained 47% to $10.3 billion in the third quarter, with net income 80% higher to $4.7 billion. After market trading, Facebook’s stock witnessed a 3% price increase.

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