Facebook Reports Strong Q3 Financial Results

Facebook Inc. on Wednesday reported financial results for the quarter ended September 30, 2015. The social networking giant’s Q3 earnings rose by 11 percent, along with a significant increase in revenue from advertising, The Wall Street Journal reported.

“Mobile advertising revenue represented approximately 78% of advertising revenue for the third quarter of 2015, up from 66% of advertising revenue in the third quarter of 2014”, the report noted.

Revenue surged by 41 percent to $4.5 billion, considerably up from $3.2 billion in the same period last year. However, total costs and expenses spiralled upwards even faster by 68 percent, suggesting heavy spending by the company on several projects.

David Wehner, Facebook’s Chief Financial Officer, said the company would continue to spend on virtual reality, artificial intelligence and other moves to prepare for the future, particularly as the core business remains strong, Bloomberg reported.

“We are investing aggressively in the future,” the CFO said in an interview after earnings were announced. “We see great opportunities.”

The report further pointed out that the number of daily active user (DAU) rose 17% year-over-year and stood at 1.01 billion on average for September 2015.

"We had a good quarter and got a lot done," said Mark Zuckerberg, Facebook founder and CEO. "We're focused on innovating and investing for the long term to serve our community and connect the entire world."