Facebook Reports Slowing Revenue and User Growth

Facebook released its third-quarter earnings on Tuesday and the results are mixed. While revenue rose 33 percent and profit increased 9 percent for the third quarter from a year earlier, revenue growth was down from the 42 percent jump that Facebook had reported in the previous quarter (Warning: source may be paywalled; alternative source). 'Facebook also said its daily active users increased 9 percent from a year earlier to 1.49 billion, compared with 11 percent growth in the previous quarter,' reports The New York Times. 'It's monthly active users reached 2.27 billion.' From the report: The social network has spent the past 18 months under scrutiny for the spread of disinformation, hate speech and leaks of user data. Executives have vowed change and Facebook has scrambled to apply fixes, even as new issues surface on an almost weekly basis. Mark Zuckerberg, Facebook's chief executive, has said there is likely to be future hits to profit margins as it works to repair systemic issues. The social network has pledged to hire tens of thousands more people to monitor content across its platform.

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