After the market closed yesterday, Facebook released its Q3 financial results.
Overall the social network saw the number of daily active users grow minimally to 1.495 billion, a 1.36% increase from Q2. Monthly active users also grew by 1.79%, up to 2.271 billion.
However, the key North American and European markets experienced no growth and a decline in active users respectively.
Facebook lost 1 million daily and monthly active users in Europe over the past three months, potentially as a result of one of the biggest data breaches in its history.
In terms of revenue, Facebook generated $13.78 billion, up 33% from the same time last year. This resulted in total earnings per share of $1.76.
Facebook’s stock price closed at $142.09 yesterday before the numbers were released, but despite the unconvincing results, it has reacted favourably after originally dropping as low as $138.50.
At the time of writing a Facebook share costs $153.78, a 5.15% increase from yesterday’s close.
During the accompanying earnings call, Mark Zuckerberg confirmed reports that Facebook’s News Feed is being used less and less.
He told investors that a total of 100 billion private messages are being sent every day on Messenger, WhatsApp and Instagram. Furthermore, 1 billion Stories are being uploaded across the three platforms daily.
Read more here.