Despite facing intense scrutiny over data privacy, Facebook stock rose 12 per cent after it logged a record revenue of $16.91 billion in the fourth quarter that ended December 31
San Francisco: Despite facing intense scrutiny over data privacy, Facebook stock rose 12 per cent after it logged a record revenue of $16.91 billion in the fourth quarter that ended December 31.
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The social media giant now has 2.32 billion monthly active users (MAUs) globally — an increase of 9 per cent (year-over-year) — and 1.52 billion daily active users (DAUs), thanks to the growth in emerging markets like India, the company said late Wednesday.
"Full year 2018 revenue grew 37 per cent to $56 billion and we generated over $15 billion of free cash flow. "Daily active users on Facebook reached 1.52 billion, up 9 per cent compared to 2017, led by growth in India, Indonesia and the Philippines," said Dave Wehner, Facebook's Chief Financial Officer. Facebook reported $6.88 billion in net income which amounts to $2.38 a share — up from $1.44 a share in the year-ago period. The full year revenue stood at $55.8 billion — up from $40.6 billion in 2017.
"We estimate that around 2.7 billion people now use Facebook, Instagram, WhatsApp or Messenger each month, and more than 2 billion people use at least one of our family of services every day on average," said the company that added 1 million daily users in Canada and US.
1.52bn
No. of daily active users on FB
$16.91bn
FB's revenue
No FB-WhatsApp integration till '20
Amid the global outrage over Facebook's plans to integrate chats among Whatsapp, Messenger and Instagram, the company's CEO Mark Zuckerberg has said this is going to be a long-term project. "There's a lot more that we need to figure out... This is going to be a long-term project that I think will probably be to whatever extent we end up doing it in - a 2020 thing or beyond," he said.
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