Facebook shares are currently up over 5.95 percent above an intraday trading high after the company posted a blow out quarterly earnings that surpassed Wall Street estimates through increased advertising sales with 1 billion daily active users.
Facebook advertising revenue grew 45 percent to $4.3 billion. Mobile generates 78 percent of Facebook’s advertising revenue in the 3rd quarter, up from 76 percent in the 2nd quarter.
Facebook added 60 million new monthly active users in the 3rd quarter.
For the quarter, net income rose 11 percent to $891 million compared with $806 million in the same quarter a year ago.
Facebook has 8 + billion video views each day from 500 million users, doubling from 4 billion in April. Just 3 seconds of viewing is counted as a view.
Facebook reported 1.55 billion people are on Facebook each month and 1 billion each day.
There are 900 million people using WhatsApp each month and 700 million people using Messenger each month.
In the last 3 months, Facebook completed Aquila, a first unmanned aircraft to beam down internet, a satellite launch to provide internet, a new Al powered digital assistant, and a first Oculus virtual reality consumer release.
On October 2nd Wedbush Securities upgraded Facebook to outperform with a $115 price target.