Facebook profit surges 76.6 percent as ad sales jump

04 May, 2017, 00:57 | Author: Sam Montgomery

Facebook announced it has beaten analyst expectations for its first quarter results with revenue topping $8bn and quarterly profit up 76.6 per cent.

Revenues for the quarter surged 49 percent to $8.03 billion from $5.38 billion a year ago.

Mobile advertising revenue - Mobile advertising revenue represented approximately 85% of advertising revenue for the first quarter of 2017, up from approximately 82% of advertising revenue in the first quarter of 2016. It wasn't immediately clear if the 77-cent figure corresponded with Q1 2017 earnings of $1.04.

Facebook (FB) this afternoon reported Q1 revenue and net income that was slightly ahead of consensus, but still saw its stock trade lower after market by a little bit. Results came in above what analysts were looking for this past quarter.

NYC set to receive $25.7m from feds for securing Trump Tower
Garodnick told the New York Times of the Fifth Avenue area Trump Towers is located following the election. O'Neill, the police commissioner, New York City has shouldered the heaviest cost since Trump was elected.

'Baahubali 2' collects over Rs 400 crore in opening weekend
Going by numbers from North America, Baahubali-2 has emerged as first Indian film to breach $10 million mark in its first weekend. The film remains unstoppable with houseful shows even after the weekend and looks like the craze is here to stay for a while.

Liverpool beat Watford 1-0 in EPL with Can highlight goal
Klopp, however, said he needed to see his goal again to fully appreciate the moment. "He's a good player". Coutinho came off second-best in an early collision with recalled Watford defender Adrian Mariappa.

Facebook still makes most of its money in North America, where the company generated $17.07 of revenue with each and every user during the quarter, an increase of 37 percent over the same quarter past year.

Revenue: $8.03 billion vs. $7.83 billion expected, up 49% from the year-ago period. "We're continuing to build tools to support a strong global community".

What's more: Facebook (FB, Tech30) now has 1.28 billion people who use its services every single day, up from 18% year-over-year. But some were already confident Facebook remains on the growth track, partly thanks to rapidly increasing ad revenues at its Instagram photo and video sharing app.

The company is no longer reporting non-GAAP information for expenses, income, tax rate and EPS. Despite the earnings beat, shares in the social network were down 40 cents to $151.19 in after-hours trading.

Recommended:

  • Bill Shine leaves Fox News after 20 years

    Some at Fox believed Shine gave the network stability and continuity as it was buffeted by the Ailes and O'Reilly episodes. In a statement, Fox's Rupert Murdoch said Shine's departure marked a "significant day for all" at the company.
    Meet Jelly, quite possibly the world's smallest Android 7.0 Nougat smartphone

    Meet Jelly, quite possibly the world's smallest Android 7.0 Nougat smartphone

    The kickstarter is looking for crowd funding which is now have seen $125,000 pledged for its $30,000 goal, with 34 days to go. The Jelly smartphone is backed up by 950mAh battery which is rated to offer three days of battery and seven days on standby.
    Japan destroyer leaves port reportedly to escort US warships

    Japan destroyer leaves port reportedly to escort US warships

    Post-World War Two, Japan barred its military from using force to resolve conflicts except in cases of self defense. Navy supply ship, which is on its way to provide fuel to the Carl Vinson Carrier Strike Group.
  • Trump says he's brought 'profound change' to Washington

    Trump says he's brought 'profound change' to Washington

    The administration argues that unfair competition with China and other trade partners has wiped out millions of US factory jobs. The president is expected to sign an executive order Saturday that will direct his Commerce Department and the U.S.

    Erdogan urges European Union to cooperate, or lose Turkey's membership bid

    Then we will sit at the able and talk. "Otherwise, we have nothing left to discuss with you", Erdo─čan said. The change will allow him to lead the party outright.
    Some Galaxy S8 owners in South Korea are encountering red-tinted screens

    Some Galaxy S8 owners in South Korea are encountering red-tinted screens

    When the update arrives to you doesn't only depend on what make and model device you own, but also on your mobile carrier. There is also 64GB of internal storage which can be further expanded via a microSD card upto 256GB.
  • 'Made in India' South-Asia satellite to launch on 5th May

    'Made in India' South-Asia satellite to launch on 5th May

    Experts say "Pakistan has missed an opportunity" since its own space program is now in a primitive stage as compared to India's. As per sources in the Indian space agency, the countdown for the launch of South Asia Satellite will begin on Thursday morning.
    Zelda: Breath of the Wild's first DLC pack sounds really neat

    Zelda: Breath of the Wild's first DLC pack sounds really neat

    It is unknown if these will have special features, but the Korok Mask will shake if you're close to the location of a Korok Seed. So once found, players can use this item to register a travel point on the map that Link can swiftly transport to at any time.

    Dozens trapped as coal mine explodes in Iran

    Delegations have visited Tehran from foreign countries including the Czech Republic, hopeful for contracts. They are being supported by the Red Crescent and it is expected that there will have been some deaths.
  • Prosecution fires back in the Chris Soules case

    Prosecution fires back in the Chris Soules case

    Elite Daily reached out to a representative for Soules on the allegation, but did not hear back at the time of publication. Soules is a longtime resident of Arlington, IA, where his family owns and operates a farm.
    Bulls' Rondo fined for attempting to trip Celtics' Crowder

    Bulls' Rondo fined for attempting to trip Celtics' Crowder

    The Bulls' comeback in the third quarter was led by backup point guard Isaiah Canaan but it was Jimmy Butler who evened the score. Jimmy Butler trailed on the play and a frustrated Marcus Smart turned and lightly shoved Butler in the chest.
    Jets not picking up Calvin Pryor's 5th-year option

    Jets not picking up Calvin Pryor's 5th-year option

    On the trading block for a while, Pryor has been a disappointment since being selected in the first round of the 2014 draft. Those two picks basically said that the Jets were done with Pryor, even before they decided not to pick up the option.


Popular

Yum Brands shares rise after earnings beat
The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.38 by $0.06. Deutsche Bank AG initiated coverage on shares of Yum China Holdings in a research report on Friday, February 24th.

Court rules Same-Sex Couples Can Seek Damages Against Kim Davis
Days later, Ermold and Moore - who filmed their repeated attempts to get a license from Davis - filed a lawsuit against Davis. Ermold and Moore want Davis to pay damages for the emotional distress caused by her refusal to issue them a license.

New Jersey 4th in drinking water violations
The EPA estimates that the government would need to spend almost $400 billion to upgrade water infrastructure. The act allows the EPA to make rules and standards for which the water systems would abide by.

Lobbying by hospitals, doctors, slows GOP health care drive
Most individuals are required by law to have health insurance coverage. SIEGEL:.To pick up where the insurance company can no longer pay.

Corey Lee, SingleThread, and La Taqueria Win James Beard Nods
Bayless has won many Beard honors over the last 26 years, including outstanding chef in 1995 and Humanitarian of the Year in 1998. The restaurant is owned by Rick Bayless and Deann Bayless, whose Frontera restaurant in Chicago won the award in 2007.

Moscow says concerned about Turkish airstrikes in Iraq, Syria
That included, the ministry said, notifying the US air command center in Qatar and speaking with the head of the USA military. He described the Turkish warning "as a notification, as opposed to coordination" with a trusted ally.

Pregnant Serena Williams Gracefully Dances in Her Met Gala Gown
I love my career, and I didn't want anything to interfere with that. "That's the question of the hour", Williams replied . I have said it once and I'll say it again, this world has come so far but yet has so much further to go.

Bills Decline 2018 Option On WR Watkins
The former first-round pick will enter 2017 in the previous year of his rookie contract. The tag would net the wideout more cash in one year than the fifth-year option.

Three reasons why Steelers drafting Pitt's James Conner is flawless
Technically, a team should not exceed the NFL's limit at any time. although some leeway is allowed in the aftermath of the draft. This pick also, in all likelihood, gives the Steelers a solid one-two punch at running-back for many years to come.

Deshaun Watson: I'm not Michael Jordan, but I'm ready to work
Houston , who traded up to the No. 12 overall pick to draft Watson, was already an above-average team without him. Despite talk about how good other quarterbacks can be, Watson is the most accomplished passer in the draft.