Beat the Street, indeed: Facebook?s third-quarter-2016 financial results exceeded Wall Street?s projections across the board, and the social network now boasts 1.79 billion monthly active users as of Sept. 30.

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}(document, 'script', 'facebook-jssdk'));The company posted revenue of $7.01 billion in the third quarter of 2016, up 56 percent from $4.5 billion in the year-ago period and topping analysts? consensus of $6.92 billion.
GAAP (generally accepted account principles) net income was $2.38 billion, up 166 percent from the third-quarter-2015 total of $896 million, and earnings per share soared to $1.09 from $0.57 in the same quarter last year, again besting analysts? consensus of $0.97. Ad revenue of $6.82 billion topped analysts? consensus of $6.73 billion and was up 59 percent from $4.3 billion in the prior-year quarter, and Facebook said ad revenue grew by more than 50 percent in all regions of the globe.
Mobile ad revenue soared 70 percent year-over-year to $5.73 billion, and mobile represented 84 percent of total ad revenue in the third quarter of 2016, up from 78 percent in the year-earlier period.

Statistics and milestones

Facebook reported 1.79 billion MAUs as of Sept. 30, up 16 percent year-over-ye...