Facebook stock up after earnings and revenue beat

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Wedbush expects Facebook to increase monetization of Instagram WhatsApp and Messenger
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03 November, 2017

"We will continue to invest aggressively in the many opportunities we see ahead", Facebook chief financial officer David Wehner said during an earnings call with analysts.

"I believe this will make our society stronger, and in doing so will be good for all of us over the long term", Zuckerberg said on the call. Indeed, Facebook said a planned surge in investments in video content to help support the Watch tab is one of the main reasons for its forecast for a 45% to 60% year-over-year increase in operating expenses in 2018. The company said 66% of monthly active users visit the Facebook site every day.

He went on to stress that protecting Facebook's community was "more important" than boosting profit.

Despite mounting criticism from U.S. lawmakers over Russia's use of its platform to spread propaganda, the company's stock has been trading at all-time highs ahead of Wednesday's results.

Chief executive Mark Zuckerberg used the update to address criticism of Facebook for allowing disinformation and manipulation during the 2016 United States presidential election, hours after the company's top lawyer faced a grilling at a Washington congressional hearing. In a statement to investors, CEO Mark Zuckerberg said the company is "investing so much in security" that it will impact future profitability.

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In its results, Facebook revenue was $10.3bn, up 47% and above the $9.84bn expected. Daily active users, a metric closely watched by analysts and investors, rose 16% to 1.37 billion, compared with the year-earlier period.

Facebook reported capital expenditures for the third quarter of $1.76 billion.

"At first glance, no change to our positive thesis after Facebook reported stable ad revenue growth despite previous commentary around diminishing ad load contributions in (the second half of this year), wrote Baird analyst Colin Sebastian in a research note to clients".

"We now discovered, in the last 48 hours, 120,000 Russian-based posts on Instagram", Stretch told the Senate Intelligence Committee hearing. "Facebook plans to raise the standards of transparency for political ads on the site, rolling out a tool to let users see all of the ads a page is now running, and also an archive of political ads the advertiser has run in the past". And they used them to try to undermine our values. "What they did is wrong, and we're not going to stand for it", Zuckerberg said.


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