Facebook mentioned on Monday that income rose 35 p.c to $29 billion within the three months ending in September in contrast with the identical interval final yr, whereas revenue rose 17 p.c to $9.2 billion, an indication of the social community’s monetary power because it faces a public relations disaster over troubling disclosures made by a former worker.

Advertising income, which is chargeable for the overwhelming majority of Facebook’s earnings, rose 33 p.c to $28.3 billion. “Other” income, which consists largely of gross sales of Facebook’s virtual-reality Oculus {hardware}, rose 195 p.c to $734 million.

Some 3.6 billion folks now use certainly one of Facebook’s apps each month, up 12 p.c from a yr earlier.

“We made good progress this quarter and our community continues to grow,” mentioned Mark Zuckerberg, Facebook’s founder and chief govt. “I’m excited about our road map, especially around creators, commerce and helping to build the metaverse” — a imaginative and prescient of the long run espoused by technologists by which disparate elements of the digital world will merge with parts of the offline world. Mr. Zuckerberg has mentioned he hopes for Facebook to be often known as a “metaverse company” within the years forward.

The outcomes have been a continuation of the corporate’s robust monetary efficiency in the course of the coronavirus pandemic, which has pushed folks indoors towards their computer systems and different units.

In latest weeks, although, Facebook has confronted intensifying political strain. Frances Haugen, a former worker who grew to become a whistle-blower, has shared 1000’s of pages of inside paperwork and has mentioned that the corporate selected “profits over people.” The disclosures by Ms. Haugen, first publicized in The Wall Street Journal, ignited a firestorm of criticism from lawmakers, regulators and the general public. Lawmakers have centered largely on reviews displaying how Facebook knew Instagram was worsening physique picture points amongst youngsters, amongst different points.

On Monday, greater than a dozen information organizations, together with The New York Times, printed articles based mostly on the Facebook Papers, a cache of paperwork Ms. Haugen took earlier than she left the corporate. A number of hours later, she testified earlier than British lawmakers, saying that the corporate was unwilling to cease the dangerous features of its merchandise as a result of doing so might jeopardize earnings and development.

Executives have pushed again vociferously on the protection. “My view on what we are seeing is a coordinated effort to selectively use leaked documents to create a false picture about our company,” Mr. Zuckerberg mentioned in a name with traders on Monday.

“Any honest account should be clear that these issues aren’t just about social media,” he added. “That means that whatever Facebook does, we’re never going to solve them alone.”

Facebook seems to be setting itself up for long-term, costly development plans. The firm mentioned it will escape its Facebook Reality Labs phase into a unique reporting unit on its quarterly earnings statements. That phase shall be separate from the remainder of the corporate’s so-called “Family of Apps” — Instagram, WhatsApp, Messenger and Facebook correct.

Understand the Facebook Papers

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A tech big in hassle. The leak of inside paperwork by a former Facebook worker has supplied an intimate look on the operations of the secretive social media firm and renewed requires higher rules of the corporate’s extensive attain into the lives of its customers.

The whistle-blower. During an interview with “60 Minutes” that aired Oct. 3, Frances Haugen, a Facebook product supervisor who left the corporate in May, revealed that she was chargeable for the leak of these inside paperwork.

Ms. Haugen’s testimony in Congress. On Oct. 5, Ms. Haugen testified earlier than a Senate subcommittee, saying that Facebook was keen to make use of hateful and dangerous content material on its website to maintain customers coming again. Facebook executives, together with Mark Zuckerberg, referred to as her accusations unfaithful.

The Facebook Papers. Ms. Haugen additionally filed a criticism with the Securities and Exchange Commission and supplied the paperwork to Congress in redacted type. A congressional employees member then provided the paperwork, often known as the Facebook Papers, to a number of information organizations, together with The New York Times.

Facebook Reality Labs, or F.R.L., is closely investing in applied sciences like digital and augmented actuality. Mr. Zuckerberg’s long-term objective is that the division helps Facebook grow to be a big participant and creator of the so-called metaverse. But now, the unit spends greater than it makes — and can for a while.

“We are committed to bringing this long-term vision to life and we expect to increase our investments for the next several years,” the corporate mentioned in its earnings assertion Facebook expects F.R.L. to deliver down its total 2021 revenue by near $10 billion, however Mr. Zuckerberg mentioned he anticipated the metaverse would deliver a “massive creator economy” over the long run. The subsequent few years, he famous, shall be spent constructing out the infrastructure to assist his imaginative and prescient.

The firm can also be retooling a few of its promoting programs to cope with latest modifications to Apple’s cellular working system, iOS, which has restricted the quantity of knowledge corporations like Facebook can be taught from iPhone homeowners. Sheryl Sandberg, Facebook’s chief working officer, mentioned the corporate was constructing a technique to do promoting evaluation with much less info from customers.

Shares of Facebook jumped 2.6 p.c to $337.25 in after-hours buying and selling.


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