Facebook is slowly marching to reach $27 billion in revenue this year. The social networking giant's massive revenue stream contradicts the lackluster growth the company has experienced in the past few months.

Facebook announced on Wednesday that the company's third-quarter revenue increased by 56 percent to seven billion. Facebook added that its quarterly profit nearly tripled as it reached $2.39 billion. Market experts attribute this massive profit to Facebook's dominance of the mobile advertising business.

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In comparison, Facebook's chief rival, Google's parent company Alphabet, reported that its quarterly revenue increased by 20 percent. According to the BBC, at least one billion users use Facebook on the mobile platform on a daily basis. This represents a massive growth compared to just 894 million users about a year ago.

Despite its improved revenue stream, Facebook claims that it cannot maintain its current pace of growth. Facebook said that by the second half of next year, the company would start cutting down on ads that are being pitched to users via their News Feed. Because of this tactic, Facebook's Chief Financial Officer Dave Wehner said that the company's advertising growth would "come down meaningfully."

In a statement acquired by The Wall Street Journal, Pivotal Research analyst Brian Wieser said, "The growth rate has to be slower; it's a law of large numbers if nothing else. Nobody was expecting the company to grow at the same rate."

Because of the change in its advertising strategy, market analysts speculate that Facebook will have to diversify its revenue stream to keep things in balance.

Following the revelation of its new advertising strategy, Facebook's stock price tumbled by more than seven percent in after-hours trading. Aside from its new approach to mobile advertising, Facebook also highlighted its intention to focus its resources on building data centers and hiring more engineers next year.