While Facebook is facing intense outage and criticism from users and data regulation watchdogs over data breaches, the social media giant’s stock rose 12 per cent after it announced the revenue of $16.91 billion – a significant from $12.97 billion of the same period last year.
Facebook now has over 2.32 billion monthly active users (MAUs) globally, an increase of nine per cent (year-over-year), and 1.52 billion daily active users (DAUs), an increase of nine per cent.
‘Our community and business continue to grow. We've fundamentally changed how we run our company to focus on the biggest social issues, and we're investing more to build new and inspiring ways for people to connect,’ said Mark Zuckerberg, Facebook founder and CEO.
The company reported $6.88 billion in net income, which amounts to $2.38 a share – up from $1.44 a share from the same period last year. The full-year revenue stands at $55.8 billion – up from $40.6 billion in 2017.
Mobile advertising revenue represented approximately 93 per cent of advertising revenue for the fourth quarter of 2018, which has also gone up from approximately 89 per cent of advertising revenue in the fourth quarter of 2017.
‘We estimate that around 2.7 billion people now use Facebook, Instagram, WhatsApp or Messenger each month, and more than two billion people use at least one of our family of services every day on average,’ added Facebook.
The company is also testing ‘LOL’ – a new hub that allows children to post and re-share humorous memes. With LOL, Facebook wants to gain more kids as users, which is still a growing market.