The company reported an EPS of $1.59, up 77 percent year over year, and beating analysts' estimates of $1.28. But none of that matters if our services are utilized in ways that do not bring people closer together.
"Facebook's efforts will come in many forms - increasing transparency of political and issue ads, removing problematic content such as false news and hate speech and bulking up review of ad content", added Anmuth.
Facebook, Google and Twitter representatives have been testifying before Congress this week as lawmakers try to discover how each company allowed stealth Russian posts and whether there needs to be more regulation of tech companies.
"I would note that, compared to a year ago, price is a much more important driver of our ads revenue growth", Facebook CFO David Wehner said. CEO Mark Zuckerberg claimed that focusing on security will definitely have an impact on the company's bottom line, stating that "We're serious about preventing abuse on our platforms".
The increase in security comes after Facebook, along with other tech giants, Amazon and Twitter, testified before Congress about the Russian ads meddling with the USA 2016 Presidential elections.
"We're building, we're doubling - in some cases more - our engineering teams focused on security", Zuckerberg said Wednesday.
Facebook shares that ended the day up 1.4 percent to $182.66 but retreating in after-market trades to $179.25.
The quarterly earnings report was released as Facebook and other internet titans testified this week before Congress about a Russian-led effort to spread misinformation and sow discord ahead of the 2016 USA election.
With apparently no influence of the ongoing hearing regarding its role in Russian Federation meddling, Facebook late on Wednesday published its financial results for the quarter that ended on September 30, reporting that its profitability hit $4.7 billion mark and earned $10.3 billion in revenue compared to an estimate of $9.84 billion.
Zuckerberg outlined investment priorities that included video content, which he described as the biggest trend at Facebook. Revenue surged as Facebook benefited from strong growth in ad pricing. Facebook also said that the ads possibly reached over 126 million Americans.
Facebook now has 2.07 billion monthly active users - an increase of 16 per cent year-over-year. "What they did is wrong, and we're not going to stand for it", Zuckerberg said.