Mark Zuckerberg Promises Radical Ad Transparency as Facebook Profit Rockets

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As a result, expenses are expected to mushroom by as much as 60% next year.

The average revenue per daily active user reached $7.51 compared to $5.95 a year ago showing a 26 per cent increase.

"Video is exploding, and mobile video advertising is a big opportunity", said Facebook COO Sheryl Sandberg.

"Our community continues to grow and our business is doing well", Zuckerberg said.

Zuckerberg also said that Instagram Stories and WhatsApp Status both now have 300 million daily active users - up from 250 million in June (Instagram) and July (WhatsApp).

Zuckerberg said Facebook's recently launched Watch tab is an example of how it is capitalizing on this opportunity. Facebook has also stated that the workforce entrusted with weeding out fake news and hate speech from the platform will increase 100% to 20,000 by the end of next year. Facebook's advertising policies, however, have been under constant fire over the past few months after the revelation of Russian sponsored ads to induce differences between Americans during the Presidential elections. But he was just as heated about Facebook's steadfastness to prevent this sort of manipulation in the future.

"Russians tried to use our tools to sow mistrust".

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The board can also close the climb if it believes people will continue to visit the sacred site without being able to climb. Climbing on Australia's iconic Uluru landmark, previously known as Ayers Rock, is to be banned from October 2019.

"None of that matters if our services are used in ways that don't bring people closer together - or if the foundation of our society is undermined by foreign interference", Zuckerberg said to investors. He mentioned the uptake of live video, which receives substantially more engagement in News Feed than the on-demand kind, and Oculus virtual reality, which, he said, will help people feel more connected than ever.

"For those who have followed Facebook, you know that when we set our minds to something, we're going to do it".

"We continuously monitor and aggressively take down those accounts". "I've directed our team to invest so much in security on top of the other investments we're making it will significantly impact our profitability going forward".

During the call Wednesday, the Facebook chief said the company plans to boost spending to police content, adding he is "dead serious" about preventing abuse on its platform.

Facebook CEO Mark Zuckerberg.

Facebook, meanwhile, reported that its third-quarter profit soared 79 percent to $4.71 billion. Another catalyst during the quarter more than made up for slow growth in ad load: Ad prices increased 35% year over year.

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