![](https://investorshub.advfn.com/uicon/276021.png?cb=1471598439)
Thursday, November 03, 2016 6:07:12 AM
http://dtn.fm/JV6gD
Facebook Inc., now on pace to reach $27 billion in revenue this year, is defying the slowdown in growth that usually comes with increasing size.
The social media giant said Wednesday that third-quarter revenue soared 56% to $7 billion and its quarterly profit nearly tripled to $2.38 billion, as it reaps the spoils of its dominance in mobile advertising.
Facebook's top-line growth rate is double any other U.S. company with revenue of $20 billion or more, excluding those growing through acquisitions, according to data from Standard & Poor's Capital IQ.
Yet Facebook said that it can't maintain its current pace. Starting in the middle of next year, Facebook will stop showing users more ads in their news feed, the tactic it has been using to juice revenue growth for the past two years, the company said Wednesday. As a result, advertising growth will "come down meaningfully," Chief Financial Officer Dave Wehner said during a call with analysts.
Facebook now expects a "much smaller contribution from this important factor going forward," he said. He added that Facebook expects to power growth by adding more users and boosting the amount of time they spend on the social network. Video is key to that strategy.
Click the link for complete article.
Recent META News
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/14/2024 08:50:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/13/2024 10:33:20 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/13/2024 08:56:04 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/13/2024 08:40:23 PM
- Tesla Surges 5% in Pre-Market; Virgin Galactic Drops 9% Following Reverse Stock Split, and More News • IH Market News • 06/13/2024 11:24:25 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/13/2024 01:49:15 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/13/2024 01:47:48 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/13/2024 01:46:31 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/12/2024 09:00:03 PM
- Paramount Ends Skydance Talks, Oracle Shares Surge 8.7% on New Partnerships, and More News • IH Market News • 06/12/2024 11:19:10 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/11/2024 08:55:02 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/11/2024 08:26:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 01:18:41 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/10/2024 10:36:12 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/10/2024 08:53:03 PM
- GME Volatile as Roaring Kitty Goes Live Today, Meta Unveils AI for WhatsApp Ads, and More • IH Market News • 06/07/2024 12:09:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/06/2024 10:49:43 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/06/2024 08:40:22 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/06/2024 08:11:58 PM
- Nvidia Becomes 2nd Most Valuable Company in the USA, ASML Takes 2nd Spot in Europe, and More News • IH Market News • 06/06/2024 11:34:59 AM
- Apollo Buys 49% of Intel’s Irish Plant for $11bn, BlackRock and Citadel to Create Texas Exchange, and More News • IH Market News • 06/05/2024 11:41:36 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/04/2024 08:13:51 PM
- Economic Worries May Lead To Weakness On Wall Street • IH Market News • 06/04/2024 01:10:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 10:30:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 10:53:29 PM
ECGI Holdings Announces LOI to Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market Potential • ECGI • Jun 13, 2024 9:50 AM
Fifty 1 Labs, Inc. Announces Major Strategic Advancements and Shareholder Updates • CAFI • Jun 13, 2024 8:45 AM
Snakes & Lattes Opens Pop-Up Location at The Wellington Market in Toronto: A New Destination for Fun and Games - Thanks 'The Well', PepsiCo, Indie Pale House & All Sponsors & Partners for Their Commitment & Assistance Throughout The Process • FUNN • Jun 13, 2024 8:18 AM
HealthLynked Introduces Innovative Online Medical Record Request Form Using DocuSign • HLYK • Jun 12, 2024 8:00 AM
Ubiquitech Software Corp (OTC:UBQU) Posts $624,585 Quarterly Revenue - Largest Quarter Since 2018 • UBQU • Jun 11, 2024 10:13 AM
Element79 Gold Corp Files for OTCQB Uplisting, Provides Financial Update • ELEM • Jun 11, 2024 9:25 AM