Facebook announced on Thursday that its Q3’16 revenues had crossed $7 billion for the first time ever. More than 90 per cent of this was accounted for by advertising revenues. Mobile ad revenue grew 70 per cent YoY and was approximately 84 per cent of total ad revenue. Desktop ad revenue also grew at 18 per cent YoY, higher than growth rates in recent quarters. Facebook attributed this to its continued efforts to limit the impact of ad blockers on advertising served via web browsers.
“In Q3, we announced that we have over 4 million active advertisers on Facebook and over 500,000 active advertisers on Instagram. Our growth was broad-based across all regions, marketer segments, and verticals. We continue to focus on our three priorities — capitalizing on the shift to mobile, growing the number of marketers using our ad products, and making our ads more relevant and effective,” said Facebook COO Sheryl Sandberg.
“I want to start by talking about our work around putting video first across our apps. People are creating and sharing more video, and we think it’s pretty clear that video is only going to become more important. So that’s why we're prioritizing putting video first across our family of apps, and taking steps to make it even easier for people to express themselves in richer ways,” said Zuckerberg.
He also spoke about the company’s five year plans for various products. According to him, the second phase of this plan is about enabling people to organically interact with businesses and then the third is to give businesses tools to reach more people. According to him, Instagram is in the third phase.
“Messenger is early in the second phase. We’re helping businesses and consumers increasingly interact in richer ways. Today there are 33,000 bots live on Messenger. A lot of businesses use WhatsApp already, but we're going to really start working on the second phase in the next year,” he further added.