Facebook profits rise amid revelations from leaked documents

Amid fallout from the Facebook Papers showing its failure to address the harms its social network has created around the world, Facebook on Monday reported higher profit for the latest quarter, buoyed by strong advertising revenue

LONDON -- Amid fallout from the Facebook Papers documents supporting claims that the social network has valued financial success over user safety, Facebook on Monday reported higher profit for the latest quarter.

The company's latest show of financial strength followed an avalanche of reports on the Facebook Papers — a vast trove of redacted internal documents obtained by a consortium of news organizations, including The Associated Press — as well as Facebook whistleblower Frances Haugen’s Monday testimony to British lawmakers.

Facebook said its net income grew 17% in the July-September period to $9.19 billion, buoyed by strong advertising revenue. That’s up from $7.85 billion a year earlier. Revenue grew 35% to $29.01 billion. The results exceeded analyst expectations for Facebook's results.

The company's shares rose 2.5% in after-hours trading after closing up 1% for the day.