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Facebook reports higher 3Q EPS and revenue, with daily and monthly users up 10%

Company reported steady numbers after it was rocked earlier in the year by a string of privacy scandals
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Facebook is a social media company.

Facebook Inc (NASDAQ:FB) reported higher third quarter earnings per share (EPS) and revenue as the number of users increased by at least 10%, even as the social media giant was rocked by privacy scandals over the last few months.

The company said EPS in the third quarter came in at $1.76 on net income of $5.137 billion, compared with EPS in the same quarter last year of $1.59 on net income of $4.704 billion. The consensus EPS was at $1.47. Revenue clocked in at $13.727 billion, up 33% from the $10.142 billion in the year-ago quarter. The consensus though was at $13.78 billion.

READ: Facebook fined £500k by UK watchdog over Cambridge Analytica data breach

Revenue in the first three quarters of 2018 was at $38.92 billion, sharply up from the $27.681 billion in the same period a year ago. EPS stood at $5.26 on net income of $15.229 billion, against an EPS in the same period last year of $4.02 on net income of $11.652 billion.

Facebook's daily active users stood at 1.49 billion on average for September 2018, an increase of 9% year-over-year. The monthly active users stood at 2.27 billion as of September 30, 2018, an increase of 10% year-over-year.

READ: Facebook earnings preview: expect a year-over-year decline, according to Wall Street

Shares of the company rose in the Wednesday premarket by 5.4% to $154.11, having settled 2.91% higher on Tuesday at $146.22.

Facebook has been rocked by a series of privavy scandals, ranging from Cambridge Analytica to the 30 million users whose accounts were hacked. 

Facebook is based in Menlo Park, California.

Reporting by Rene Pastor, contactable on [email protected]

 

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