Facebook beats quarterly revenue estimates

Facebook Inc beat analysts' estimates for quarterly revenue on Wednesday, driven by a steady rise in advertising. Monthly active users rose to 2.45 billion, in line with estimates, according to IBES data from Refinitiv.

Net income rose to $6.09 billion, or $2.12 per share, in the third quarter ended Sept. 30, from $5.14 billion, or $1.76 per share, a year earlier. Total revenue rose to $17.65 billion from $13.73 billion, beating analysts' average estimate of $17.37 billion.

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