In a nutshell: Facebook for the third quarter of 2019 reported total revenue of $17.65 billion which represents a 29 percent increase year-over-year. The company also continues to grow its active user base and now has more than 43,000 employees on its payroll.

Revenue from mobile advertising continues to be Facebook’s cash cow, accounting for roughly 94 percent of advertising revenue during the quarter. For comparison, mobile advertising represented just 92 percent of advertising revenue during the same period last year.

Facebook in September 2019 reported an average daily active user (DAU) count of 1.62 billion, up nine percent compared to the same period in 2018. Monthly active users (MAUs), meanwhile, were 2.45 billion as of September 30, an increase of eight percent year-over-year. The company estimates that around 2.8 billion people use at least one of its family of services (Facebook, Instagram, WhatsApp or Messenger) each month.

The social media giant finished the quarter with 43,030 employees on its payroll, an increase of 28 percent compared to the same period last year.

Facebook CEO Mark Zuckerberg cut right to the chase. “We had a good quarter and our community and business continue to grow,” the executive said in a statement accompanying the earnings report.

Share value in the social networking titan is up 3.34 percent on the day and is currently trading at $194.53.

Looking ahead, CFO David Wehner said they expect their reported Q4 revenue growth rate to decelerate by a mid-to-high single digit percentage compared to the Q3 rate due to “the lapping of several successful product optimizations in Q4 of last year as well as ad targeting related headwinds."

Masthead credit: Facebook logo by Ink Drop