Facebook reports a rise in profit, users in Q1

Facebook reports a rise in profit, users in Q1

After having consistently risen by between $1-2 billion each quarter throughout 2017, the first three months of 2018 saw earnings fall from $12.97 to $11.97 billion.

Mobile ad revenue is now 91 percent of the total ad revenue for the company in the last quarter.

Facebook admitted that the data of 87 million users had been improperly shared with the consultancy.

Facebook now has 1.45 billion daily active users worldwide and 2.2 billion monthly users, both of which are up 13% year over year.

According to the earnings release, Facebook increased its workforce by 48% to 27,742, compared with the year-earlier quarter.

Facebook's expenses will continue to grow as it invests in security and other efforts.

While a poll last month showed that Facebook's favorability plunged 28 points in the five months between October and March, on Wednesday, the company's stock price exploded more than 7 percent in after-hours trading. His firm holds about 73,000 shares in Facebook.

Taking a tough stance against Cambridge Analytica's "unsatisfactory, cryptic and evasive" response to its first notice, the latest government notice has also asked the company to "responding fully, adequately and transparently" to the earlier queries with more details.

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The company's North American daily active users have also returned to growth, inching up to 185 million, after they dropped for the first time ever in Q4 2017, to 184 million - assuaging short-term concerns that users may be about to abandom the social network.

"In a nutshell, overall this should be another step in the right direction for Facebook after a month of navigating these unprecedented data concerns post the Cambridge debacle with the worries around regulatory headwinds and damage to the company's advertising fortress a lingering black cloud over the stock".

On a conference call, chief financial officer David Wehner said the average monthly and daily user growth in Europe could be flat or down as the European Union brings tough new privacy regulations on May 25. Facebook CFO David Wehner said that the company has recorded this hiring initiative under "sales and marketing", which he noted grew 51% year-over-year to $1.6 billion because of the "community investment" and "safety initiatives".

The Indian government on Wednesday, April 25, served another notice to Facebook and Cambridge Analytica after finding discrepancies in their statements over the data breach.

But Williamson said some of Facebook's momentum was already fading due to other factors such as disinformation, social media fatigue and new platforms attracting young people. He told analysts the public testimony was an "important moment" for the company. But don't expect any sweeping changes to the company's ad business yet. The question for analysts will be whether the declines are truly Facebook's own design or a reflection of user preference.

"Facebook is so large that it would take a lot of user defections to make a difference", eMarketer principal analyst Debra Aho Williamson said in a recent report.

Early this month, Zuckerberg fended off questions from USA senators about how the organisation could be regulated more closely.

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