Facebook’s third-quarter revenue up 29% despite ongoing public relation crises

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 31, 2019, 12:53 PM UTC

The average revenue per user grew across all markets.

Facebook’s third-quarter revenue grew 29% to $17.652 billion even as the social media network continued to face public scrutiny over issues like its insistence on not fact-checking political ads. The California-based company also saw its monthly users increase by 1.65% from the last quarter to 2.45 billion.

Even with the increasing competition from Snapchat and TikTok, Facebook said 2.2 billion users accessed its family of apps every day. The company also gained 2 million users in each of its core U.S. & Canada and Europe markets.

Headcount also grew 28% as the company hired more content moderators to review content. This piece says that Facebook would have to invest and divert its resources to meet new privacy requirements by the FTC.

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