Facebook Inc. shares dipped from a record high on Wednesday after the world's biggest online social network warned investors once again that its advertising revenue growth would likely come down from current high levels. Facebook said quarterly profit rose 76.6 per cent year-over year to $3.06 billion US and total revenue went up 49 per cent to $8.03 billion US. That would give Facebook a 22.6 per cent share of the worldwide mobile ad market, with archrival Google of Alphabet Inc projected to be the leader with a 35.1 per cent share, according to eMarketer. Analysts on average had expected monthly active users of 1.91 billion, according to financial data and analytics firm FactSet. Analysts on average had expected total ad revenue of $7.68 billion US, according to FactSet.

Source: CBC News May 03, 2017 20:43 UTC