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Facebook Q3 ad revenue up 22% from last year

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The number of daily active users stands at 1.82 billion on average for September 2020, an increase of 12% year-over-year

Facebook has reported financial results for the quarter ended September 30, 2020.

The social media giant has reported $21,221 million as advertising revenue for Q3, a 22% rise from $17,383 million in the same quarter last year.

The total revenue stands at $21,470 million against last year’s $17,652 million.

“We had a strong quarter as people and businesses continue to rely on our services to stay connected and create economic opportunity during these tough times,” said Mark Zuckerberg, Facebook Founder and CEO.

“We continue to make significant investments in our products and hiring in order to deliver new and meaningful experiences for our community around the world.”

The company has further said in the results: “We expect our fourth quarter 2020 year-over-year ad revenue growth rate to be higher than our reported third quarter 2020 rate, driven by continued strong advertiser demand during the holiday season.”

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