Facebook revenues reach over $10B in 3 months

CAIRO – 2 November 2017: Facebook revenue grew 47 percent year-on-year and it peaked during the third quarter of 2017, reaching more than $10 billion, Facebook founder Mark Zuckerberg said in a post on the social media platform.

He affirmed that protecting the Facebook’s community is more important than maximizing profits and that the company will be investing so much in security.

Zuckerberg said that the community continues to grow, now with nearly 2.1 billion people using Facebook every month, and nearly 1.4 billion people using it daily.

“None of that matters if our services are used in ways that don't bring people closer together -- or if the foundation of our society is undermined by foreign interference,” he said in the post.

The Facebook founder expressed his anger at the Russians as they tried to use the platform’s tools to “sow mistrust”. He said that these tools are built to help people connect but what the Russians did was “wrong and we're not going to stand for it”.

Zuckerberg said that his company is working with other tech companies to help identify and respond to new threats as part of a much bigger focus on protecting the security and integrity of the platform and the safety of the community.

He said that the company is investing a lot in people and technology, focusing on finding bad actors and bad behavior, removing false news, hate speech, bullying, and other problematic content.

“I'm dead serious about this, and the reason I'm talking about this on our earnings call is that I've directed our teams to invest so much in security -- on top of the other investments we're making -- that it will significantly impact our profitability going forward, and I wanted our investors to hear that directly from me,” Zuckerberg said.