Facebook misses estimates for monthly users, revenue

FAN Editor
A woman looks at the Facebook logo on an iPad in this photo illustration
A woman looks at the Facebook logo on an iPad in this photo illustration taken June 3, 2018. REUTERS/Regis Duvignau/Illustration/File Photo

October 30, 2018

(Reuters) – Facebook Inc <FB.O> on Tuesday missed estimates for quarterly user growth and revenue but topped profit expectations as the social network tries to recover from privacy and content scandals.

The company’s profit rose to $1.76 per share in the third quarter from $1.59 per share a year earlier. Analysts on average expected earnings of $1.48 per share, according to Refinitiv data.

Facebook’s monthly active users were 2.27 billion, falling short of 2.29 billion estimated by analysts.

Total revenue rose 33 percent to $13.73 billion, also missing estimates of $13.78 billion.

(Reporting by Munsif Vengattil in Bengaluru and Paresh Dave in San Francisco; Editing by Anil D’Silva)

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