FILE- In this May 1, 2018, file photo Facebook CEO Mark Zuckerberg makes the keynote speech at F8, Facebook's developer conference in San Jose, Calif. Facebook Inc. reports earnings Tuesday, Oct. 30. (AP Photo/Marcio Jose Sanchez, File)

Facebook 3Q revenue slightly below expectations

October 30, 2018 - 4:23 pm

NEW YORK (AP) — Facebook is reporting a slight revenue miss but stronger than expected profit in its third-quarter earnings report.

The company had 2.27 billion monthly users at the end of the quarter, below the 2.29 billion analysts were expecting. Facebook says it changed the way it calculates users, leading to a small decline.

Earnings were $1.76 a share and revenue was $13.73 billion for the July-September period.

Analysts had expected earnings of $1.46 per share on revenue of $13.77 billion, according to FactSet.

The company warned last quarter that its revenue growth will slow down significantly for at least the rest of this year and that expenses will continue to balloon. The following day the stock plunged 19 percent. It was the biggest one-day plunge in the stock, and shares haven't recovered.

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