Facebook profit surges 76.6% as ad sales jump

Analysts on average had expected total ad revenue of $7.68 billion, according to financial data and analytics firm FactSet.

Still, questions remain about why video of the crime remained on Facebook's platform for part of the day. "We also expect desktop ad revenue growth rates to slow in the third quarter when we begin to lap our efforts to limit the impact of ad blockers".

"A great quarter, but what comes next?" asked Rob Sanderson, analyst at MKM Partners.

"We continue to invest aggressively to improve our business and drive value for our community", Wehner said. Cicero says App Annie's report lines up with his experience on Snapchat, and reinforces his decision to send more ad dollars to Snap.

Coming to the Average Revenue Per User (ARPU), Facebook reported a 27.4% YoY improvement in ARPU, which came in at $4.23 in the latest quarter. (FB) reported revenue of $8.032 billion and net income of 3.064 billion, resulting in EPS of $1.04. Analysts are predicting a 40 per cent sales gain in the current period.

Both Messenger and WhatsApp received their own versions, as did Facebook's flagship app. Instagram Stories usage continues to grow, hitting 200 million daily users, but Facebook hasn't provided an update on any of the other apps.

Facebook is also stepping up efforts to combat fake news, which emerged as a major issue in last year's USA presidential election. Other than WhatsApp, Messenger has also 1.2 Billion monthly active users.

When we start digging into the numbers, we start noticing a few interesting developments that are perhaps concerning investors. Last month, Facebook promised to conduct a review of its reporting process.

Also, the company said it would no longer break out mobile users, as mobile is now the norm.

The company released a reference design for a camera shaped like a U.F.O. that can capture 360-degree video. Mobile now accounts for 85 per cent of the company's advertising revenue, the company said Wednesday. A born-and-raised Angeleno who graduated from New York University, he now lives in Los Angeles.He has broken stories on Snapchat's ad plans, Hulu founding CEO Jason Kilar's attempt to take on YouTube and the assemblage of Amazon's ad-tech stack; analyzed YouTube's programming strategy, Facebook's ad-tech ambitions and ad blocking's rise; and documented digital video's biggest annual event VidCon, BuzzFeed's branded video production process and Snapchat Discover's ad load six months after launch. "In the long run, we expect to see a revenue share model on the platform". But Microsoft is likely years away from making any real money for the device or its software. The company will eventually roll out a video tab on its application - necessarily separate from news feed because people enter it with different intent, Zuckerberg said. Zuckerberg pledged earlier Wednesday to hire 3,000 additional content reviewers to more quickly remove inappropriate material.