Facebook is still in the middle of its House Intelligence Committee hearing about Russian election interference, but the looming concerns over misuse haven’t dampened its business. Facebook announced Q3 2017 earnings today, continuing its streak of beating estimates. Facebook earned $10.3 billion in revenue and $1.59 GAAP actual EPS, compared to estimates of $9.84 billion in revenue and $1.28 EPS. Revenue growth was 47% year-over-year compared to 59% in Q3 2016, which matches Facebook’s warnings that it’s running out of space to show ads.
As for users, Facebook now has 2.06 billion monthly active users, up 3.19% compared to last quarter’s 2.006 billion and 3.4% growth rate. Daily active users reached 1.37 billion, up 3.8% quarter-over-quarter.
Facebook’s share price had closed at $182.66 prior to the earnings announcement, and climbed 1.76% in after-hours trading. One interesting point is that ad revenue from mobile actually declined from 87% in Q2 to 84% in Q3 after years of increases as a segment, showing Facebook has completed the shift to mobile.
It’s been a grim few months for Facebook, which has struggled to improve its abuse detection systems following Russian election interference. Meanwhile, it’s scared news publishers with tests of a News Feed that removes all Pages and places them in a separate, buried feed. But prioritizing the user experience has allowed Facebook to continue to thrive amidst its many challenges and widespread public backlash.