Facebook reports 55.8 percent rise in revenue

By REUTERS
November 2, 2016 22:15

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Facebook Inc reported a 55.8 percent rise in quarterly revenue on Wednesday as its mobile-advertising sales soared.

Mobile ad revenue accounted for 84 percent of Facebook's total advertising revenue of $6.82 billion in the third quarter ended Sept. 30, compared with 78 percent a year earlier.Analysts on average had expected total ad revenue of $6.71 billion, according to research firm FactSet StreetAccount.

More than 90 percent of Facebook's users access the social network through mobile devices.

Total revenue rose to $7.01 billion from $4.50 billion, compared with the average estimate of $6.92 billion, according to Thomson Reuters I/B/E/S.



Net income attributable to Facebook shareholders jumped to $2.37 billion, or 82 cents per share, in the quarter from $891 million, or 31 cents per share, in the third quarter of 2015.

Excluding items, the company earned $1.09 per share.

Facebook is expected to generate about $22 billion in mobile ad revenue in 2016, according to research firm eMarketer, up about 67 percent from 2015. Total ad revenue is forecast to rise to about $26 billion, an increase of about 52 percent.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
March 26, 2019
Second red alert sounded in Eshkol Region as rocket attacks continue from Gaza

By JERUSALEM POST STAFF