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Facebook released its Q3 earnings on Tuesday, falling short of its revenue expectations.

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Facebook released its Q3 earnings on Tuesday, falling short of its revenue expectations.
Facebook CEO

The social media giant has been facing lots of criticism over the past month following the leak of thousands of pages of internal company documents.

 Facebook reported revenue at $29.01B, a 35% increase YoY, but missing analysts' forecasted $29.57B. 

Net income came in at $9.2B, a 17% increase YoY. EPS was $3.22, a 19% increase YoY. 

 Facebook earns about 97% of its revenue from advertising. 

Ad revenue came in at $28.28B, and "other" revenue came in at $734M, a 195% increase YoY.

 Facebook projected Q4 total revenue to be between $31.5B to $34B, but noted high uncertainty around those figures given ongoing effects of Apple's iOS 14 tracking policy changes. 

Facebook app reported 1.93 billion DAUs and 2.91 billion MAUs. 

The company reported 2.81 billion daily active people (DAP) and 3.58 billion monthly active people (MAP) for its family of apps (Instagram, WhatsApp, etc.).

 DAP and MAP are Facebook's version of DAUs and MAUs, respectively, for its family of apps. 

Facebook announced a new financial reporting segment structure starting Q4 FY 2021 – Family of Apps (FoA) and Facebook Reality Labs (FRL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. FRL will include its augmented and virtual reality products, spearheading the company's metaverse ambitions.

 Facebook expects its overall operating profit for 2021 to decrease by $10B as it plans to invest more in its Metaverse vision. 

CEO Mark Zuckerberg touched on the ongoing media storm surrounding the company's leaked internal documents, saying that the media coverage was a coordinated effort to paint a false image of the company.

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