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Social Media Giant Facebook Earns Record Profits with 2.32 bn Users

Capital expenditures were $4.37 billion and $13.92 billion for the fourth quarter and full year 2018, respectively

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Facebook, data,photos
A television photographer shoots the sign outside of Facebook headquarters in Menlo Park, Calif. VOA

Despite facing intense scrutiny over data privacy, Facebook stock rose 12 per cent after it logged a record revenue of $16.91 billion — up from $12.97 billion in the year-ago period — in the fourth quarter that ended December 31.

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), also an increase of 9 per cent, the company said in a statement late Wednesday.

“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.

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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.

Mobile advertising revenue represented approximately 93 per cent of advertising revenue for the fourth quarter of 2018, up from approximately 89 per cent of advertising revenue in the fourth quarter of 2017.

Facebook
Facebook, social media. Pixabay

“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 the US.

Capital expenditures were $4.37 billion and $13.92 billion for the fourth quarter and full year 2018, respectively. (IANS)

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Social Media Giant Facebook Acquires AR Display Maker “Plessey”

Facebook said that its AR/VR team is focused on building the next computing platform centred around people.

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Facebook
Facebook said that its AR/VR team is focused on building the next computing platform centred around people. VOA

Facebook has acquired British company Plessey, a maker of Micro-LED displays for Augmented Reality (AR) devices, for an undisclosed sum.

Plessey, an embedded technologies developer in displays, designs and manufactures LED materials and products from their facility in Plymouth in England.

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“Under the new multi-year agreement Plessey will dedicate operations and manufacturing capabilities, as well as grant an exclusive license to some of its IP, to help Facebook prototype and develop microLED wafers for potential use in future AR/VR products,” Facebook said in a statement on Monday.

There were reports that Apple had expressed an interest in acquiring Plessey to push its AR dreams. Apple is reportedly planning to release a combined AR/VR headset by 2021 or 2022, followed by a pair of AR glasses in 2022 or 2023.

Facebook
Facebook has acquired British company Plessey, a maker of Micro-LED displays for Augmented Reality (AR) devices, for an undisclosed sum. Pixabay

Facebook said that its AR/VR team is focused on building the next computing platform centred around people.

“With a future AR glasses product, we envision a glasses form factor that lets devices melt away so we can be more present with our friends, families, and surroundings,” said the company.

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This will take years, so across AR/VR, “we’re continuing to invest in extensive research on this deep tech stack and components such as small-scale displays”. (IANS)