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Facebook’s Profit Surge in Q1 with 2.2bn Users

With 2.2bn users, Facebook's profits surge in Q1

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Tweeters unable to automatically save tweets to facebook. Pixabay
Tweeters unable to automatically save tweets to facebook. Pixabay

Embroiled in a massive data breach controversy, Facebook has beaten Wall Street’s estimates by raking in $11.97 billion in revenue for the first quarter of 2018.

The social media giant reported $4.98 billion in profit — up from $4.26 billion in the last quarter.

“Despite facing important challenges, our community continues to grow. More than 2.2 billion people now use Facebook every month and more than 1.4 billion people use it daily,” Facebook CEO Mark Zuckerberg posted late Wednesday.

Facebook stock gained more than 4 per cent in after-hours trading and was up 7 per cent following its conference call.

Facebook added 70 million monthly active users (MAUs) to reach 2.196 billion globally — a 3.14 per cent growth rate.

Both daily active users (DAUs) and monthly active users (MAUs) saw an increase of 13 per cent year-over-year (y-o-y).

Facebook page.
Facebook. Pixabay

“We are taking a broader view of our responsibility and investing to make sure our services are used for good. But we also need to keep building new tools to help people connect, strengthen our communities, and bring the world closer together,” Zuckerberg said, who had recently testified before the US Congress over Cambridge Analytica data scandal.

British political consultancy firm Cambridge Analytica was found misusing users’ data collected by a Facebook quiz app which used the “Login with Facebook” feature. In total, 87 million users were affected.

Facebook’s mobile advertising revenue represented approximately 91 per cent of advertising revenue for the first quarter of 2018, up from approximately 85 per cent of advertising revenue in the first quarter of 2017.

Facebook currently has 27,742 employees — an increase of 48 per cent y-o-y.

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“Our focus in 2018 is to keep people safe and to keep building the experiences people expect from us. We are taking a broader view of our responsibility — to not only give people powerful tools but to make sure these tools are used for good.

“At the same time, we also need to keep building new services that bring people together in meaningful new ways. That’s what makes Facebook so important to so many people, and that’s our responsibility too,” said Zuckerberg.

According to Zuckerberg, Facebook’s initiative Internet.org has now helped almost 100 million people connect to the internet, up from 40 million in November 2016.  IANS

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Political ad Spend on Facebook Picks up in April

The 2019 Lok Sabha election is being held in seven phases from April 11 to May 19

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FILE - The Facebook app icon is shown on an iPhone in New York. VOA

Political parties and their affiliates ramped up spending on social media ads ahead of the third phase of Lok Sabha elections, scheduled for Tuesday, show data released by Facebook Ad Library.

Indians spent around Rs 7 crore for running political ads on Facebook and Instagram in the first 20 days of April, while the amount spent on these platforms in February-March was about Rs 10 crore.

Facebook’s Ad Library, a searchable database, includes ads related to politics and issues of national importance run on Facebook or Instagram.

The Bharatiya Janata Party (BJP) and its affiliates continue to lead the ad spending on Facebook. The official BJP page took the top spot in the list of spenders on social media platforms. Of the Rs 1.3 crore that it spent on Facebook, Rs 44.32 lakh was spent during the week ending April 20.

The official Congress page on Facebook spent Rs 56.69 lakh during February-April 20.

However, supporters and affiliates of political parties account for most of the spending on the social media platforms.

facebook, remove pages
FILE – An Indian man surfs a Facebook page at an Internet cafe in New Delhi, India, Feb. 9, 2016. VOA

For example, the pro-BJP pages — Bharat Ke Mann Ki Baat (Rs 2.23 core), My First Vote For Modi (Rs 1.08 crore) and Nation with NaMo (Rs 1.20 crore) among others — spent much more than the Congress.

Similarly, the pro-Congress page “Bande Mein Hai Dum” spent Rs 2.59 lakh for drumming up support for the grand old party on Facebook and the Indian Youth Congress spent Rs 6.52 lakh on the social media platform.

Among the regional parties, the Biju Janata Dal (BJD), the YSR Congress and the Telugu Desam Party (TDP) lead the spending table on Facebook.

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On Twitter, the accounts spending over $100 during the past week belonged to BJP MLA from Mandawa Narendra Kumar, Mumbai Congress unit chief Milind Deora, Congress leader and former Union Minister Subodh Kant Sahai, BJD President Naveen Patnaik and the TN Youth Party.

The 2019 Lok Sabha election is being held in seven phases from April 11 to May 19. (IANS)