We've Got Hollywood Covered

Facebook Q3 2015 Revenues Up 41 Percent, Beating Expectations

Social media giant hits $0.57 earnings per share, surpassing Wall Street’s projection of $0.52

Facebook reported its earnings for the third quarter of 2015 on Wednesday, surpassing Wall Street expectations.

The social media network reported earnings per share of $0.57, which surpassed Wall Street’s expectations of $0.52 EPS. The number is also higher than the $0.43 earnings a year ago.

Facebook also reported revenue of $4.5 billion, which also surpassed the projected $4.37 billion, and is up 41 percent from a year ago.

“We had a good quarter and got a lot done,” Mark Zuckerberg, Facebook founder and CEO, said in a statement. “We’re focused on innovating and investing for the long term to serve our community and connect the entire world.”

Facebook now has over a billion members who use the site daily, which is up 17 percent from a year ago.

Mobile was once again a big source of growth, as mobile daily active users reached 894 million, up 27 percent year-over-year.

During a call with investors following the earnings release, Zuckerberg shared an infographic (below) showing just how big the userbase for the parent site and subsequent acquisitions have grown.

The company also acknowledged news is the slowest part of Facebook, pointing to excitement over its Instant Articles initiative, and said the next big thing being worked on is a more advanced search function that would allow users to find content more easily.