Facebook might be face arguably theworst word cycleof its intact macrocosm right now , but that did n’t break off it from graze in astonishing lucre . Again .
The company reported $ 29.01 billion in revenue in the third quarter , up from $ 21.47 billion the same quarter last year . The company also reported some pretty meaty exploiter number — about 1.9 billion daily fighting users , and 2.9 billion folks using Facebook ’s apps each calendar month . Out of the over $ 29 billion in revenue , Facebook squeezed out $ 9.2 billion in profit .
Facebook ’s stemma toll popped about 3 % in after - hours trading following its profit announcement , Bloombergreported .
Photo: Drew Angerer (Getty Images)
“ We made good progress this quarter and our community continue to grow , ” Mark Zuckerberg said in a statement ahead of the prescribed earnings call with reporters . “ I ’m excited about our roadmap , peculiarly around creators , Department of Commerce , and helping to build up the metaverse . ”
What Zuck ’s decidedly not excited about are some of the news show story that have come out about his caller over the past few day . A syndicate of about 20 different news outlets were recently open admittance to afresh trove of documentsfrom Facebook whistle-blower Frances Haugen detailing some of the caller ’s bad offenses involve a loser to curtail hate oral communication , misinformation , andmuch much more . Those stories began trickling out over the weekend , with a deluge of new reports arriving on Monday before earnings were announce .
Facebook also abstract in a hint about how its reports are going to be modify from next one-quarter on . Starting Q4 of this year , the company said , it ’s go to be divide up remuneration report into two trenchant segments . The first is Facebook ’s “ Family of Apps ” or “ FoA , ” which includes net profit from Facebook , Instagram , and WhatsApp . section issue two is “ Facebook Reality Labs ” or “ FRL , ” which includes the company ’s multitudinous computer hardware and practical reality products . As part of Zuckerberg ’s energy into VR and the extensive metaverse ( whatever the Inferno that phraseactually mean value ) , the fellowship announced that while it would n’t be chuck the Oculus title from its pop sword of VR headset , it would be actuate the productunder the FRL label , a space it shares with the much less popularPortal tablets .
While the ongoing media shitstorm has n’t yet made a dent in the caller ’s salary , Apple ’s ongoingprivacy - centric updatesto the iOS ecosystem is throwing thing into disarray . “ Our outlook reflects the significant precariousness we face in the 4th quarter in light of bear on headwinds from Apple ’s iOS 14 changes , and macroeconomic and COVID - related factors , ” Facebook enunciate in its Q3 earnings sum-up .
Facebook , for its part , had seen this coming for more than a twelvemonth , engaging in afull - on Puerto Rico campaignagainst the hardware colossus as presently as some of these imminent change were announced . And now that more drug user are opting out of app - ground trackingthan ever beforewith Apple ’s help , it seems like Facebook ’s worst fears have come to pass . Last month , one of the company ’s main advertising executives , Graham Mudd , told advertisersthat the company was have a difficult time pass over a sizable pct of iOS user through the Facebook ecosystem . This month , Mudd announced that the company would becompletely overhaulingthe way it enumerate item-by-item users across Facebook ’s properties in parliamentary procedure to answer for for some of these fall behind figures .
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