Facebook (NASDAQ:FB) has reported third quarter results that have topped analysts’ expectations after strong advertising sales from Instagram and WhatsApp.
Net income rose to 11 percent $891 million for the period between July and September, up from $806 million last year.
Facebook bought photo-sharing app Instagram in 2011, but investors have been cautious as to its money-making potential. However, this set of results is the first indication that takeovers of Instagram and WhatsApp were a good move.
In a statement, Facebook chief Mark Zuckerberg said that the company was “focused on innovating and investing for the long term”.
The company also stated that Facebook and Instagram account for one in every five minutes Americans spend online, illustrating the potential for advertising reach and revenue in the future.
Facebook is currently trading up 1.33 percent in after hours trading.
