Facebook Inc reported an uptick in users in lucrative markets and its third-stra...
) reported an uptick in users in lucrative markets and its third-straight rise in quarterly sales growth on Wednesday, but the company’s controversial political ads stole the limelight when CEO Mark Zuckerberg spoke to analysts.
Facebook on Monday confirmed to Reuters that some employees had criticized its policy in an internal letter. Zuckerberg estimated political ads would account for under 0.5% of Facebook’s revenue next year. Zuckerberg said that much of the scrutiny would be around the company’s acquisition of Instagram in 2012, but he said that though Facebook took out a competitor, its eventual success was not guaranteed at the time.
Third-quarter revenue rose 29% compared with a year ago to $17.65 billion, beating analysts’ average estimate of $17.37 billion, according to IBES data from Refinitiv.
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