Facebook stock jumps after solid third-quarter results

Profits up 19 per cent compared to same period last year

Mark Zuckerberg, chief executive officer and founder of Facebook Inc., speaks during the F8 Developers Conference in San Jose, California, U.S., on Tuesday, April 18, 2017. Zuckerberg laid out his strategy for augmented reality, saying the social network will use smartphone cameras to overlay virtual items on the real world rather than waiting for AR glasses to be technically possible. Photographer: David Paul Morris/Bloomberg
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Facebook is reporting solid results for the third quarter along with a steady growth in its user base, even as it faces broad regulatory threats and criticism.

Facebook on Wednesday said it earned $6.09 billion, or $2.12 a share, in the July-September quarter, up 19 per cent from $5.14bn, or $1.76 a share, in the same period a year earlier.

Revenue grew 29 per cent to $17.65bn from $13.73bn. Analysts on FactSet had expected earnings of $2.11 a share and revenue of $17.37bn.

Chief executive Mark Zuckerberg faced questioning from members of Congress last week when he testified about the company's plans for a digital cryptocurrency.

Investors sent Facebook stock up nearly 2 per cent in after-hours trading.