Facebook's stock dips after Zuck warns Russian crackdown will hurt profits

Facebook CEO Mark Zuckerberg

Instagram Stories and WhatsApp Status, 2 ephemeral messaging products Facebook mostly cribbed from Snapchat, have actually both now exceeded 300 million monthly active users, making them nearly twice as popular as all of the Snapchat.

Zuckerberg said that the community continues to grow, now with almost 2.1 billion people using Facebook every month, and almost 1.4 billion people using it daily. Net income was $4.7 billion.

"I'm dead serious about this, and the reason I'm talking about this on our earnings call is that I've directed our teams to invest so much in security - on top of the other investments we're making - that it will significantly impact our profitability going forward, and I wanted our investors to hear that directly from me", Zuckerberg said. Monthly Active Users were 2.07 billion for September 30, 2017, an increase of 16%. Facebook's average quarterly revenue per daily active user is now $7.54 - the highest in its history. Facebook's CFO David Wehner said that video has been earmarked as an area for heavy investment in 2018.

Advertising served up on smartphones or tablets accounted for about 88 percent of revenue taken in from marketing messages in the quarter, Facebook reported.

Revenues of $10.3 billion increased 47% from a year ago and beat expectations of $9.84 billion.

The company's share price is already trading at a 52-week high and these earnings will only send the stock soaring even higher. Facebook added that it would keep investing in its fledgling VR and AR businesses. He said Facebook will double the security team to 20,000 in the next year (Facebook now has 23,165 employees) and introduce a tool that allows users to see a full archive of advertisements run by any political advertiser. We're bringing the same intensity to these security issues that we've brought to any adversary or challenge that we've faced.




Facebook was at the center of news today, affirming in front of the lawmakers in Washington DC about how state participants like Russian Federation used its platform to attempt and change the outcome of the 2016 U.S. election. In the third quarter of 2017, Facebook incurred capital expenditure of $1.76bn.

This will start with the removal of duplicate accounts.

While the 10% figure is relatively small compared to Facebook's massive network of users around the world, it still equates to roughly 207m duplicate accounts - quite apart from its additional 60m "fake" accounts.

"This quarter, we implemented a new methodology to help identify duplicate accounts", noted Wehner in an earnings call.

Trust engineers to find a silver lining in stormy clouds.

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