Mubasher: Facebook reported a 9% year-on-year rise in its net income in the third quarter of 2018, while its total revenue jumped 33%.

The social media giant’s net income came in at $5.13 billion in Q3-18, compared with $4.70 billion in Q3-17, while its diluted earnings per share rose 11% to $1.76 over the reported period from $1.59.

The company generated $13.72 billion in total revenue in the period between July and September, versus $10.32 billion in the same period last year.

The major contribution to revenue came from advertising operations which posted $13.53 billion during the quarter, while revenue from payments and other fees went up 1% to $188 million from $186 million the year before.

The US company’s costs and expenses totalled $7.94 billion in the three-month period ended last September, rising 53% on year from $5.20 billion.

Users of Facebook family of applications, including WhatsApp, Instagram and Messenger, reached more than 2.6 billion on a monthly basis.

“Our community and business continue to grow quickly, and now more than 2 billion people use at least one of our services every day,” Zuckerberg said.

Monthly active users (MAU) rose 9% year-on-year to 2.27 billion as of the end of September.

Capital expenditures over the three-month period ended September were $3.34 billion.

Facebook plans to make significant investments for the next year, as it concentrates on making new products such as Facebook Watch, Instagram TV and Facebook Marketplace, with improving cybersecurity, the company’s CEO Mark Zuckerberg said during earnings call.

The company’s total expenses would grow at a rate ranging from 40% to 50% next year, compared to this year, CFO David Wehner said.

Facebook also expected capital expenditures for the next year to range between $18 billion to $20 billion.