Facebook reports 29% revenue growth in Q3 FY2019

Facebook has registered revenue earnings of $17.652 billion

e4m by exchange4media Staff
Updated: Nov 5, 2019 1:13 PM

Facebook touched revenue earnings of $17.652 billion and $2.12 in earnings per share, as per media reports.

The platform counts more than 2.45 billion monthly-active users across its family of apps, up slightly from the previous quarter. The user base in Europe increased by 2 million in Q2 2019, from 286 million daily active users to 288 million. In the US and Canada, the number of users increased in Q1 by 2million from 187 million to 189 million.

Facebook Chief Financial Officer Dave Wehner was reported as saying that there will be deceleration in revenues from a mid to high single digit percentage from Q3 2019. Analysts predict slow revenue growth in 2020, perhaps a decline by 4% from the current 26% to 22%, a news media report said.

Continued investments in data centers, servers, office facilities and network infrastructure will contribute to capital expenditure of $17 billion to $18 billion in 2020, and total expenditure of around $59 billion, Wehner was quoted in a news report.

The mobile ad revenues have increased by 2% from a year earlier, now accounting for 94% of the total ad sales. The average revenue per user has increased by 19% from $6.09 in FY2018 to $7.26 in FY2019. 

Meanwhile, Facebook India has posted Rs 892 crore as revenues, registering a 71 per cent jump as compared to last financial year, as per media reports.

The net profit has also gone up 84% to Rs 105 crore.

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