Facebook Users Give the Platform a Vote of Confidence in Q3 2019
Amidst continued angst from regulators and consumers, Facebook (NASDAQ: FB) reported third-quarter 2019 results that handily bested expectations. The world's leading social media empire is still picking up users and figuring out new ways to monetize its various platforms, all the while controlling higher spending as it updates the way it manages the filtering of bad actors on the web. Facebook may be a polarizing company -- at the moment, especially in the realm of politics -- but there's no denying it's a powerful investment.
In spite of ongoing warnings from management to expect decelerating revenue growth and higher expenses, Facebook's Q3 came in better than expected. Revenues accelerated again to 29% year over year, and earnings per share notched a big 20% rebound after the record $5 billion Federal Trade Commission fine the company absorbed in the second quarter. Monthly average users were up 8% over the same period in 2018 to 2.45 billion -- including an estimated 140 million businesses using a Facebook service.
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Source Fool.com
