Facebook reports strong Q4 earnings despite year of troubles
07 February, 2019, 12:53 | Author: Frank Williams
SAN FRANCISCO:FacebooksaidWednesday quarterly profit climbed to $6.9 billion as its ranks of users continued to grow despite scandals that have dented the leading social network´s image.
The social media giant also saw a steady rise in a number of its key metrics as both daily active users and monthly active users saw 9% year-on-year growth.
Despite 2018 being its most hard year to date, Facebook has announced record profits of $6.9bn in 4Q18, up from $4.3bn the year before, marking a 61% increase. FMR LLC grew its stake in Facebook by 1.7% during the third quarter.
Facebook was hammered a year ago by a series of scandals over data protection and privacy and concerns that the leading social network had been manipulated by foreign interests for political purposes.
The number of employees as of Dec 31 was 35,587, an increase of 42 per cent year over year.
Mark Zuckerberg, the CEO of Facebook, has said he expects the Facebook Watch service to become "more mainstream" this year.
UBS Group restated their neutral rating on shares of Facebook (NASDAQ:FB) in a research report sent to investors on Thursday morning, www.boersen-zeitung.de reports.
"The firm had fundamentally changed how we run the company to focus on the biggest social issues", he added. The social networking company reported $2.38 earnings per share for the quarter, beating the Zacks' consensus estimate of $2.18 by $0.20.
The move, which is meant to boost the user engagement on the social networking platform at a time when growth has slowed down for the company, has raised several security and privacy concerns from users around the world.
"It's clear that overall, the Facebook family of apps has the breadth of formats and the reach marketers are looking for when it comes to engaging with their audiences and placing ads", says Yuval Ben-Itzhak, CEO of Socialbakers - a Facebook marketing partner.
Visual social network Instagram has been a bright spot for Facebook, with use and revenue rising.
Zuckerberg also confirmed plans to integrate all the company's messaging services-Instagram, WhatsApp, and Messenger-so they can chat with each other.
More specifically, the company is planning to deliver new experiences in the following areas.
Facebook ads, and those of larger rival Google, are still more relevant and effective than most other options, precisely because the companies collect so much information on activity across the internet and beyond. However, they are still in "really early" stages of planning this move and they need more time to figure this out.
The company also warned that revenue growth will slow because of shifts in its advertising business.
According to a Pew Research Center survey past year, 51 per cent of USA teens ages 13 to 17 use Facebook, compared with 72 per cent for Facebook-owned Instagram and 69 per cent who are on Snapchat.
He hopes to maintain a military presence in the country despite withdrawing troops from Syria and Afghanistan . Among those gathered were foreign ministers from Turkey, France, Saudi Arabia, Jordan, Morocco and Iraq.
The Defense Ministry's website carried an undated video purportedly showing the Hoveizeh being test-fired from a mobile launcher. EU-Iran relations have been strained following the latter's ballistic missile program and attacks against dissidents in Europe.
If you have them turned on then you'll be able to both see and reply to any messages without having to unlock the app. Hopefully this is an added layer of security that more messaging and social media apps will implement in the future.
Both the Pandya brothers, Krunal and Hardik, might well be part of the same XI for the first time in national colours. With MS Dhoni , Dinesh Karthik and Rishabh Pant in the side, there is a lot of chances they keepers might be rotated.
" Apex Legends ", Electronic Arts and Respawn Entertainment's new free-to-play battle royale shooter, is available to play now. Apex Legends showcases several new genre-leading innovations, starting before players even start the match.
The model uses the latest data to predict how the magnetic field and two magnetic poles will move in the years in-between updates. Scientists have, however, noticed in recent years an increased rate at which the pole appears to shift from location to location.
He said that about 1,500 to 2,000 ISIS fighters remain in a 20-square-mile pocket in Syria near the Iraqi border. He added that details about the pace of that withdrawal are now being developed with USA allies and partners.
Avery Bradley and Williams missed on the same possession, and Williams missed a technical free throw for the Clippers. According to Chris Haynes of Yahoo Sports , James will make his much-anticipated return to the Lakers lineup tonight.
The New Orleans Pelicans can not allow themselves to get bullied into taking a deal early that doesn't net them the proper return. Bad because the Pelicans know they lose the upper-hand-despite Ainge reportedly expressing he will make a better offer.
City now have the chance to go back top of the Premier League when they travel to Merseyside to face Everton on Wednesday night. Speaking to LiverpoolFC.com, Klopp explained the decision for Gomez to have surgery came with his long-term future in mind.
Police ended the standoff late Saturday by shooting the 50-year-old man with non-lethal bean bag shotgun rounds and arresting him. Assistant Commissioner Peter Crawford said the tactical decision made at the time was suitable to contain the alleged offender.
The world record-holding Instagram egg finally cracked
If you or anyone you know is struggling with depression and thinking of suicide , know that someone is always there. He has now enlisted the help of two friends Alissa Khan-Whelan, 26 and CJ Brown, 29, to help run the egg account.
Unexpectedly strong jobs report - 'Economy is thriving'
Almost all of this increase occurred in the private sector and may reflect the impact of the partial federal government shutdown . Private sector payrolls were up by 296,000, with big increases seen in the construction and leisure and hospitality industries.