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28 October 2014 By Robert Cyran Follow @rob_cyran

The social network continues to crank out higher profit, as more users check accounts daily and advertisers get comfortable with the mobile platform. One possible danger, though, is that the company wastes capital on risky bets like artificial intelligence and virtual reality.

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On Oct. 28, Facebook reported revenue of $3.2 billion for the third quarter, an increase of 59 percent from the same period last year. The company earned $806 million, or 30 cents per share, compared with $425 million, or 17 cents per share, in the third quarter last year.

The social networking company had 1.35 million monthly active users on Sept. 30, an increase of 14 percent over a year earlier. It also had 864 million daily active users on that date, an increase of 19 percent year over year.

In a conference call, Chief Executive Mark Zuckerberg talked about the company’s 10-year plan, which involves connecting the world to the internet, artificial intelligence and virtual reality.

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