Facebook Q3 earnings: Hauls in $7.01B in revenue and 1.79B monthly users

“We had another good quarter” said Mark Zuckerberg, Facebook founder and CEO in a blog post hinting at how his social network has not lost steam yet and also proving that their new features like Facebook Live, 360 video and more actually work well with the platform. “We’re making progress putting video first across our apps and executing our 10 year technology roadmap.” he said. Facebook has made a successful Q3 earning of $7.01 billion in revenue bringing in 1.79 billion monthly users. This itself marks a bump up to a good 16 percent year-over-year growth and a 3.63 percent bump up since the last quarter. Facebook’s Daily Active Users (DAUs) grew to 1.18 billion with a 17 percent increase year-over-year. Monthly Active Users (MAUs) are at 1.79 billion with a 16 percent year-over-year increase. The social network hit a new milestone by touching 1.055 billion mobile-only users in this quarter. Coming to the highlights of the earnings call, mobile advertising generated approximately 84 percent of advertising revenue which is also up compared to the same quarter 2015. The social network made 26.14 billion in cash, and securities. TechCrunch reported that this profit itself is good enough for Facebook to chomp down on another WhatsApp-like service. Video clearly is the way forward and Facebook’s Live service is already a hit with plenty more features coming.