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Briefing
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- Net income almost tripled – Reported $2.38 billion net income in 2016Q3 from $896 million last year, an increase of 266%
- Income growth drivers – Include U.S. election and continued growth in online advertising revenue, particularly mobile
- Strong growth in ad revenue – Online ad revenue grew by 59% year-on-year, with mobile ad revenue increasing by 78% year-on-year reaching $5.7 billion for the period
- Decline of traditional publishing – Major publishers including Daily Mail, The Guardian, The New York Times and The Wall Street Journal announced declines in advertising revenues as well as layoffs
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Accelerator
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Sector
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Information Technology, Media and Entertainment
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Organization
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Facebook Inc.
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Source
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Original Publication Date
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November 2, 2016
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