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Shares of Facebook Inc (NASDAQ:FB) were trading lower by around 2 percent Thursday as some investors found the company's fourth-quarter spending guidance a bit concerning. Nevertheless, the third-quarter results once again blew past investor expectations.
Facebook reported a year-over-year increase in net income of nearly 80 percent. Accordingly, the social media's year ago EBITDA of $2.6 billion seems minuscule as does its revenue of $7.011 billion which surged 47 percent to $10.3 billion.
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Looking forward Facebook could see an impact to its profitability as the company will be spending incremental money on security related initiatives that won't be generating revenue. This is due to the company's commitment to prevent abuse on its platform.
"We're investing so much in security that it will impact our profitability," Facebook CEO Mark Zuckerberg said. "Protecting our community is more important than maximizing our profits."
Here is a look at each of Facebook's earnings report dating back to the third quarter of 2016, courtesy of Statista.
- Third quarter of 2016: Revenue of $7.011 billion, net income of $2.627 billion.
- Fourth quarter of 2016: Revenue of $8.809 billion, net income of $3.568 billion.
- First quarter of 2017: Revenue of $8.032 billion, net income of $3.064 billion.
- Second quarter of 2017: Revenue of $0.321 billion, net income of $3.894 billion.
- Third quarter of 2017: Revenue of $10.328 billion, net income of $4.707 billion.
You will find more statistics at Statista
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.