Prime News Ghana

Facebook revenue hits $10 billion in Third Quarter

By www.primenewsghana.com
Facebook CEO, Mark Zuckerberg
Facebook CEO, Mark Zuckerberg
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Profits of the global social network giant – Facebook skyrocketed during the third quarter of the year. This was as a result of a massive rise in revenue during the period which exceeded $10 billion.

In a report to the media, Facebook indicated that its total profits for the third quarter which ended in September were $4.7bn (£3.5bn): representing an 80% rise from those recorded during the same period last year - 2016.

While most of the massive surge in revenue were due to its rapidly growing ads patronage, Facebook CEO, Mark Zuckerberg told investors earlier that the company’s investments in security would "impact" its profitability.

However, the company is currently under examination by US Lawmakers over the alleged use of the platform for Russian propaganda activities during the 2016 US presidential election.

Commenting on that, Mr. Zuckerberg reiterated that the company was "serious about preventing abuse on our platforms”.

Adding that protecting our community was more important than maximizing our profits.