CEO Mark Zuckerberg resolved the concerns surrounding the company in the opening of its letter to financiers.
"But none of that matters if our services are used in ways that don't bring people closer together".
Total costs and expenses climbed to $5.21 billion, as Facebook increased its spending on research and development as well as on marketing.
For Facebook, the revelation was all the more embarrassing because it had previously estimated that only around 10 million U.S. users had been exposed to Russian disinformation. Daily users grew 1.37 billion on average, while monthly users grew to 2.07 billion. "Protecting our community is more important that maximizing our profits". CEO Mark Zuckerberg claimed that focusing on security will definitely have an impact on the company's bottom line, stating that "We're serious about preventing abuse on our platforms". "We're bringing the same intensity to these security issues that we've brought to any adversary or challenge that we've faced", Zuckerberg said.
Chief executive Mark Zuckerberg used the update to address criticism of Facebook for allowing disinformation and manipulation during the 2016 USA presidential election, hours after the company's top lawyer faced a grilling at a Washington congressional hearing.
QUALCOMM earnings came in at $.92 versus $.82 expected. The social media giant, along with Google and Twitter all sent general counsel this week to three scheduled meetings before the Senate Judiciary Committee on Russian influence in the 2016 presidential election.
Facebook reported revenue of $10.3 billion, beating the consensus estimate of $9.88 billion, as polled by Zacks Investment Research, and up 47% from the year-ago quarter.
Zuckerberg outlined investment priorities that included video content, which he described as the biggest trend at Facebook.
Facebook daily active users 1.37 billion versus 1.36 billion estimate.
Facebook no longer report earnings on an adjusted or non-GAAP basis, while Wall Street's estimates are comparable only to adjusted results. Facebook also said that the ads possibly reached over 126 million Americans.
"For those who have followed Facebook, you know that when we set our minds to something, we're going to do it".