Facebook on Wednesday reported profits leapt on booming revenue from online ads in the third quarter

The leading social network said it made a profit of $4.7 billion in the quarter that ended on September 30, a jump of 79 percent from the same period a year earlier.

Chief executive Mark Zuckerberg used the update to address criticism of Facebook for allowing disinformation and manipulation during the 2016 election, hours after the company's top lawyer faced a grilling at a Washington congressional hearing.
"Our community continues to grow and our business is doing well," Zuckerberg said.

"But none of that matters if our services are used in ways that don't bring people closer together. We're serious about preventing abuse on our platforms. We're investing so much in security that it will impact our profitability. Protecting our community is more important than maximizing our profits."

Facebook shares that ended the day up 1.4 percent gained another fraction in after-market trades to reach $182.66.
Investor enthusiasm may have been tempered by rising costs at the California-based internet giant.

Expenses rose to $5.2 billion from $3.9 billion in the same quarter last year, and headcount at the company was up 47 percent to 23,165 employees.

Meanwhile, the number of monthly active users continued to grow, reaching 2.07 billion in an increase of 16 percent from the same time last year.

Advertising served up on smartphones or tablets accounted for about 88 percent of revenue taken in from marketing messages in the quarter, Facebook reported.

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 US election.