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Facebook nearly triples Q3 profit but warns of slowdown

Wednesday 2 November 2016 | 22:52 CET | News
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Facebook reported a strong increase in revenues and profitability in the third quarter, driven by growth in its ad revenues as well as more users of the social network. Revenues were up 56 percent year-on-year to USD 7.011 billion, of which 84 percent was ad revenues, up from 78 percent a year ago. The company's net profit jumped to USD 2.379 billion or 82 cents a share from USD 896 million or 31 cents a share. Facebook reported 1.79 billion monthly active users for the period, up 16 percent year-on-year, and 1.66 billion were mobile users, a 20 percent annual increase. Facebook said expects

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Categories: Internet
Companies: Facebook
Countries: World
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