Facebook declared its first quarter revenue on Wednesday that signaled a strong user growth. In fact, the multi user base of the social media giant is now larger than China’s population.
The giant also reported its revenue of $3.54 billion on non-GAAP earnings per share (EPS) of $0.42. However, the figures did not meet the expectations of analysts who anticipated report earnings of 40 cents per share on $3.56 billion in revenue.
Just after the release of its fiscal first-quarter earnings, Facebook’s shares dipped down about 1.5%.
The first quarter operational highlights showed:
· Daily active users (DAU) were 936 million on average for March 2015, an increase of 17% year-over-year.
· Mobile DAUs were 798 million on average for March 2015, an increase of 31% year-over-year.
· Monthly active users (MAUs) were 1.44 billion as of March 31, 2015, an increase of 13% year-over-year.
· Mobile MAUs were 1.25 billion as of March 31, 2015, an increase of 24% year-over-year.
It was also declared the mobile ad sales shoot up Facebook’s performance. The firm reported that mobile ad sales were 73% of the total revenue, which is up from 59% of previous year figures.
Social media giant Facebook and T-Hub, a Hyderabad-based global start-up catalyst, on Wednesday announced the 10 start-ups they have selected for the second edition of their “India Innovation Accelerator” programme.
Announced in May, the programme will support the growth of start-ups focused on finding solutions for social challenges using Artificial Intelligence (AI) in areas of good health and wellbeing, agriculture, clean water and sanitation, decent work and economic opportunities, industry, innovation & infrastructure, climate change and peace and justice and strong institutions.
“At Facebook, we believe Artificial Intelligence will be key to finding disruptive solutions to address societal challenges like access, affordability, and skill shortage. We are excited to champion next generation of tech start-ups applying AI for social good and accelerate their development by giving them access to expertise,” Manish Chopra, Head and Director of Partnerships, Facebook India, said in a statement.
The 10 cohort start-ups include Mumbai-based ftcash which aims to empower micro-merchants and small businesses with the power of credit using digital payments.
While another start-up, StaTwig, is building Blockchain based solutions to ensure that every child is vaccinated with high quality vaccines, Signzy has built a digital trust infrastructure which enables completely secure digital on-boarding using the AI assisted on-boarding (RealKYC), Algorithmic Risk Intelligence (ARI), and Blockchain technology to store and verify consumer information.
Blue Sky Analytics, a geospatial data intelligence start-up, and Pensieve that aims to democratise legal data and make it accessible to the common man were also selected.
The other start-ups that were shortlisted include Greenturn Idea Factory, Sensegrass, Marut Drones, Shortlist Professionals and Innerhour.
The India Innovation Accelerator will support the growth of these start-ups in many ways. A panel of mentors, industry experts, investors, will provide hands on operational support and mentoring with specialised training on product development, marketing, partnerships, management. (IANS)