India helped Facebook gain daily users, log record profits

Virginia Carson
February 3, 2019

The Wall Street Journal reports that Facebook has posted a record quarterly profit, reporting per-share earnings of $2.38 in the fourth quarter; up from $1.44 previous year and beating Wall Street analysts projects of $2.18. The firm had revenue of $16.91 billion during the quarter, compared to the consensus estimate of $16.40 billion.

Facebook has intentionally kept ad unit pricing for Stories 20 percent to 50 percent lower than News Feed as it works to improve performance and could bring a double-barreled benefit to ad revenue growth if it can improve ad efficacy, Morgan Stanley analysts said.

Facebook has grown the number of staff 42 percent in the past year and total headcount is now sitting at 35,587 people.

Instagram's daily active users were not reported, though Zuckerberg says more than 2 billion people use at least one of Facebook's properties every day.

"Obviously, we believe we've got the best advertising products out there in terms of being able to deliver measurable business results to clients".

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The company faces demographic challenges as younger users shift to other platforms, seeing Facebook as less cool than it once was.

Facebook has seen unprecedented success by amassing more than 2.3 billion people worldwide who actively use the platform to share updates, obtain information and connect with new people.

The group estimates it has 2 billion active users across all its apps including Facebook, Instagram, Messenger and WhatsApp.

This quarter, Facebook users rise in both Europe and the United States, regions where numbers were either flat or went down last quarter.

Facebook founder and CEO Mark Zuckerberg said Facebook, which saw continued growth of both the online community and business, has "fundamentally changed how we run our company to focus on the biggest social issues".

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"Messaging is an area that is growing most quickly, and this year people are going to feel these apps becoming the center of their social experience in more ways", Zuckerberg said.

One in 4 Singaporeans on Facebook browse the platform even while watching television, spending 17 minutes out of a whole TV hour on their Newsfeed.

Of the 1.52 billion global users during the fourth quarter, 186 million were located in the USA and Canada. Facebook has estimated that its "family" of apps - Facebook, Instagram, Messenger and WhatsApp - has around two billion users across the globe.

Why you should care.

Investors were liking the latest earnings from Facebook. Stifel Nicolaus lowered their price target on Facebook from $202.00 to $186.00 and set a buy rating for the company in a research note on Wednesday, October 31st. lowered their price target on Facebook from $205.00 to $192.00 and set a buy rating for the company in a research note on Monday, October 15th.

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Facebook CEO Mark Zuckerberg (C) testifies at a joint hearing of the Senate Judiciary and Commerce committees on Capitol Hill in Washington D.C., United States, on April 10, 2018. Private sharing in Groups and Stories is also set to become more central to the overall Facebook experience, the executive stated. From 2009 to 2012, she was an award-winning syndicated columnist for a number of daily newspapers from NY to Texas.

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