Wednesday November 02, 2016

Facebook Handily Tops Q3 Earnings Targets

Despite repeatedly stepping in piles of "controversy" all year long, Facebook continues to beat analyst estimates, post higher revenue, and grow its active user base.

The tech giant reported a net income of $2.4 billion, or 82 cents per share. Non-GAAP earnings were $1.09 per share on a revenue of $7.01 billion. Wall Street was looking for earnings of just 97 cents per share with $6.92 billion in revenue. "We had another good quarter," said Facebook CEO Mark Zuckerberg. "We're making progress putting video first across our apps and executing our 10 year technology roadmap."