Facebook reports bumper earnings of $29 billion in third quarter

San Francisco: Amid intense scrutiny from governments around the world, particularly in Australia, Facebook reported third-quarter revenue of $29 billion (35 percent on-year) and $28.3 billion in advertising revenue.

The social network reported net income of $9.1 billion, up 17 percent from the same quarter last year.

Facebook shares have gained 1.9 percent after third-quarter earnings.

Announcing its third quarter (July-September period) results on Monday, the company said around 2.8 billion people are using at least one of its apps on a daily basis, and 3.6 billion people on a monthly basis in September. use at least one.

CEO Mark Zuckerberg said, “We made great progress this quarter and our community continues to grow. I’m especially excited to help build creators, commerce and the metaverse with our roadmap.

Facebook’s daily active users reached 1.93 billion, an increase of 6 percent or 110 million over the previous year, while active users for the months increased by 170 million, or 6 percent, over the previous year.

Facebook currently employs 68,177 people which is an increase of 20 percent year-on-year.

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