Facebook’s Profits Exceed Expectations… But

Facebook Inc. announced better-than-expected results during the third quarter of this year, but revenue and the number of active users failed to meet estimates.

The results of the business of the company that owns the social networking site revealed that the net profit amounted to 9.19 billion dollars in the three months ended last September, compared to 7.84 billion dollars in the comparable period of 2020.

Earnings per share amounted to $3.22 in the third quarter of this year, compared to expectations of $3.19.

In terms of revenue, Facebook recorded revenues of $29.1 billion, compared to $21.4 billion in the same period last year, and against expectations of $29.5 billion.

Facebook reported that the number of monthly active users amounted to 2.91 billion users in the third quarter of this year, while expectations were for 2.93 million users.