Facebook shares rise on strong Q3, users up 2% to 2.45B
Average revenue per user grew healthily across all markets, boding well for Facebooks ability to monetize the developing world where the bulk of user growth currently comes from.
Facebook says 2.2 billion users access Facebook, Instagram, WhatsApp, or Messenger every day, and 2.8 billion use one of this family of apps each month.
Facebook has managed to stay sticky even as it faces increased competition from a revived Snapchat, and more recently TikTok.
Facebooks earnings announcement was somewhat overshadowed by Twitter CEO Jack Dorsey announcing it would ban all political ads something TechCrunch previously recommended social networks do.
Attempting to dispel that the policy is driven by greed, he noted Facebook expects political ads to make up less than less than 0.5% of our revenue next year.
Facebook also announced that lead independent board member Susan D Desmond-Hellman has resigned to focus on health issues.
While the company has touted how artificial intelligence would increasingly help, Zuckerberg said that hiring would continue since Theres just so much content.
Regarding Libras regulatory pushback, Zuckerberg explained that Facebook was already diversified in commerce if that doesnt work out, citing WhatsApp Payments, Facebook Marketplace, and Instagram shopping.
On anti-trust concerns, Zuckerberg reminded analysts that Instagrams success wasnt assured when Facebook acquired it, and its survived a lot of competition thanks to Facebooks contributions.
But the company will have to continue to invest and divert product resources to meet its new privacy, security, and transparency requirements.
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