Facebook has nearly tripled its profit the third quarter of 2016. The company expects to have even greater profits via applications like WhatsApp and Messenger.
Earlier today Facebook announced that it has nearly tripled its quarterly profits for the third quarter of the year with earnings rising to $7.01 billion at expected profit of $6.9 billion. The company added that these greater than expected earnings have been achieved through emphasis on mobile advertisements with said adverts rising from 78% during previous quarters to 84%. By the end of the quarter Facebook has 1.8 billion active users, 16% more than the active users the company had for the same quarter the previous year.
Despite its achieved growth, the company continues to attain its expectation of even greater results. These expectations are based upon the forecast profits applications such as WhatsApp and Messenger will give to the company. A prediction some financial analysts concur with. As an example can be given Credit Suissse’s forecast that Instagram alone could generate ore than $3.2 billion due to 500 000 active users it currently has.