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Facebook reaches 1 billion daily users in third quarter

Revenue at Facebook (FB) beats Wall Street's expectations for the third quarter, as for the first time, more than 1 billion people a day on average used the massive social network.

Revenue at Facebook totaled $4.5 billion, up 41% from last year and more than the $4.37 billion Wall Street analysts expected.

Facebook has been growing both by adding more users around the world and by charging more for advertisements, especially video ads.

CEO Mark Zuckerberg said more than 500 million people watch an average of 8 billion videos per day on Facebook. More than 400 million people per month are using Facebook's photo sharing service Instagram, over 700 million use the company's Messenger app monthly and 900 million use the Whatsapp service, Zuckerberg said.

The company said it collected $9.86 in ad revenue per U.S. user in the quarter, up 48% from a year earlier. The number of monthly active U.S. users reached 217 million, up 5%.

Source: Yahoo News