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Facebook records soaring advertising growth

02 November 17 - RE+D Magazine
Facebook records soaring advertising growth

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Facebook's quarterly profit jumped as the tech giant revealed larger than expected advertising growth amid controversy over Russia-linked content that appeared on its platform.

 

Total revenue rose 47% to $10.3billion (£7.8billion) due to a 49% rise in advertising sales to $10.1billion in the quarter to the end of September - that beat analysts' expectations of $9.7billion, according to FactSet.

Facebook said, according to cityam.com, mobile advertising made up 88% of ad revenue in the quarter, up from 84%the previous year.

Net income jumped 79% to $4.7billion, or $1.59 per share, from $2.6billion, or 90 cents per share, in 2016.

Facebook's mammoth advertising revenue figure comes just as the company is at the centre of a debate over reports Russia used the social media network to meddle in the 2016 US election, which Russia has denied.

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