On Wednesday, CEO of Facebook, Mark Zuckerberg promulgated the success story of Facebook quarter yearly performance and put forward the Facebook Q1 earning report that showed Facebook holding all the aces. According to the report during the first three months of the year 2017, Facebook’s earning, and revenue even left behind all the analyst’s estimates and expert’s predictions. It is surely a wealthy kick-off of this year with a surplus in its almighty dollars. Credit goes to the high demand of Facebook monetization and an increasing upsurge in the number of users worldwide.
The revenue got a high of 49% that reached $8.03 billion, from what it was reckoned to be $5.38 billion at this time last year. This rise in the figures of revenue has even outstripped the expected estimate that was $7.83 billion, recorded in the analyst’s poll of Yahoo Finance. The gain in revenue uplifted by the mobile video monetization along with Instagram video ads sale. The mobile ad monetization is reckoned to 84% of the total ad generated revenue, gaining 2 percent rise on comparing with last year’s Facebook Q1 Earning Report. Predictably, the Facebook revenue generated from the global marketing is estimated to be $36.29 billion this year, according to the prognostication made on eMarketer that entitled Facebook as the second largest ad selling platform after Google.
Following this pace of steady growth, Facebook is expected to reach the milestone of 2 billion users in next quarter, which, according to latest Facebook Q1 Earning Report is crunched to be 1.9 billion. Whereas, the number of active daily users this quarter, boosted to 1.28 billion from 1.23 billion last quarter. But as far as Facebook amid fake news, live video misuse and Snapchat copying strategy are concerned, then it seems to be a part and part of Facebook that is expected to follow throughout the year or more.
Furthermore, the company crunched the numbers of profit in Facebook Q1 earning report that cited the profit uplift to be $3.06 billion or $1.04 per share, that is on the rise at a rate of 76% from what it used to be $1.74 billion, or 52 cents per share last year. Again, the profit surpassed the estimates of $0.87 for each share. Moreover, non-GAAP earning were expected to be $1.12 a share. While Facebook denied reporting non-GAAP making by saying, “It is no longer reporting non-GAAP income or earning per share.” And the expenses grew at a rate of 40% from what it was $4.71 billion a year ago.
Here is what the company’s CEO said on presenting Facebook Q1 Earning Report:
“We just announced our quarterly results and gave an update on our progress connecting the world. Our community now has more than 1.9 billion people, including almost 1.3 billion people active every day.”
He further added:
“Our next focus is building community. More than 100 million people on Facebook are members of “very meaningful” groups — like parent support groups or illness support groups that are an important part of their lives. My hope is to help more than 1 billion people join very meaningful groups to strengthen our social fabric over the next few years.”
He further emphasized the F8 plans of Facebook about virtual reality and augmented reality.
“This quarter we also took a major technology step forward at F8 by opening up the camera to be the first mainstream augmented reality platform. I’m excited to get virtual and augmented reality in more of your hands soon.”