Facebook: Q3 net profit up 29%
(CercleFinance.com) - On Thursday evening Facebook unveiled Q3 2020 net profit that is up 29% at 7.
85 billion dollars, or 2.71 dollars per share, which is well above analysts' expectations.
The social networking giant's operating margin contracted by four points to 37%, for revenues that climbed by 22% to nearly 21.5 billion dollars, while the number of average daily users rose by 12% to 1.82 billion people.
For its fourth quarter, Facebook said it expects the number of average daily users in the US and Canada to be stable or slightly lower than in the previous quarter.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
85 billion dollars, or 2.71 dollars per share, which is well above analysts' expectations.
The social networking giant's operating margin contracted by four points to 37%, for revenues that climbed by 22% to nearly 21.5 billion dollars, while the number of average daily users rose by 12% to 1.82 billion people.
For its fourth quarter, Facebook said it expects the number of average daily users in the US and Canada to be stable or slightly lower than in the previous quarter.
Copyright (c) 2020 CercleFinance.com. All rights reserved.