Facebook advertisers helped the social network increase revenue by more than 40 per cent in the third quarter of 2015.
Financial figures released Wednesday showed an 11 percent increase in advertising revenue for the three-month period with a total of $4.5 billion in revenue. For the same period in 2014, Facebook reported $3.2 billion.
“We had a good quarter and got a lot done,” Facebook CEOMark Zuckerberg said in a company release. “We’re focused on innovating and investing for the long term to serve our community and connect the entire world.”
The quarter ended on Sept. 30.
That same quarter, though, saw Facebook’s expenses and total costs increase by 68 percent. The increase shows how the social media network is using funds generated to invest in an array of technology and research.
Yet, advertisers are recognizing the value of investing in Facebook and helping offset the costs.
“Facebook is your first port of call if you’re a digital advertiser and if you have money to spend,” Pivotal Research analyst Brian Wieser told The Wall Street Journal.
It is not just dollars and revenue that has seen an impressive jump for Facebook, though.
The number of daily users for the network has reach 1.01 billion. Monthly users has also increased with Facebook stating there are 1.55 billion people who log in monthly. That represents an increase of 14 percent.