Mark Zuckerberg Promises Radical Ad Transparency as Facebook Profit Rockets

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Our community continues to grow, now with almost 2.1 billion people using Facebook every month, and almost 1.4 billion people using it daily.

Facebook CEO Mark Zuckerberg was similarly optimistic about video: "Over the next three years, the biggest trend in our products will be the growth of video".

"I've directed our teams to invest so much in security on top of the other investments we're making that it will significantly impact our profitability going forward", Zuckerberg said, "and I wanted our investors to hear that directly from me". Daily users also climbed 16 per cent to 1.37 billion. Facebook's average quarterly revenue per daily active user is now $7.54 - the highest in its history. Either way, mobile advertising revenue represented 88pc of overall advertising revenue for the third quarter, up from 84pc previous year.

The company says it's getting better at targeting ads at its users and that's helped push up how much it charges for ads.

Tesla postponing mass production of Model 3 sedan
Investors weren't so sure: Tesla shares traded down 5.1% to $304.70 as of 7:45 NY , before the start of regular trading. (NASDAQ: TSLA ) by 85.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC.

After trading as high as $185 a share soon after the results were released, the stock dropped 2% to around $179 after the company revealed its 2018 expense forecast.

If you think back to about two years ago, Facebook had about 12,000 people and regarded this diminutive size, compared to players such as Apple and Google, as a kind of virtue, enabling it to be nimble and stick close to its start-up roots. He said Facebook will double the security team to 20,000 in the next year (Facebook now has 23,165 employees) and introduce a tool that allows users to see a full archive of advertisements run by any political advertiser. Total headcount was 23,165 as of September 30, 2017, an increase of 47%.

In fact, Facebook has emphasised that it is doubling the number of employees dedicated to policing its platform for activities such as child pornography, terrorism or political interference. Further, Wehner said that capital expenditure would double in 2018. "Instagram has clearly contributed to Facebook's numbers this quarter and will continue to do so in the future". That's good for business, he said, since Facebook users don't want fake news, hate speech or bullying. The increase is partly due to Facebook's new methodology for identifying these fake or duplicate accounts by using new algorithms or data signals. "We will continue to invest aggressively in the many opportunities we see ahead", Facebook CFO David Wehner said during an earnings call with analysts.

Trust engineers to find a silver lining in stormy clouds.