Facebook ads bring in $10bn

FACeBOOK profits soared in the third quarter as it brought in more than $10bn from advertising.

the firm said profits were $4.7bn (£3.5bn) in the three months to the end of September, up 80pc on a year ago.

However it warned that investing in better security – following accusations it allowed Russia to tamper in the US presidential election – would hit future profits. Facebook’s general counsel Colin Stretch said it will soon double staff working on security and safety to 20,000.

the firm also said it had 2.1bn monthly active users at the end of September, up 16pc year-on-year. Shares in the firm jumped more than 1pc in after-hours trading as Facebook boss Mark Zuckerberg announced the results. He said: ‘We’re serious about preventing abuse on our platforms. Protecting our community is more important than maximising our profits. Our communities continue to grow and our business is doing well.’

Facebook has been warning for more than a year about reaching a limit in ‘ad load’ – or the number of ads the company can feature in users’ pages.