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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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Facebook updated its advertising policy page with examples of what kinds of firearm ads are and aren't allowed on the platform under the changed policy, which will come into effect from June 21.
Facebook has updated its advertising policy to prohibit ads for weapon accessories to users under the age of 18, Pixabay
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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.

Also Read: Facebook Takes Action on The Terror-Related Content

“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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Instagram Stories get Facebook-Like Emoji Reactions

Earlier, in June, the Facebook-owned platform silently rolled out a smaller version of the app "Instagram Lite" allowing users to save space on their phone and download it quickly

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Instagram
It also appears that to react -- and to get emoji reactions -- both the user and the uploader must have the updated version of Instagram installed on their devices. Pixabay

Photo-messaging app Instagram is testing a new feature that allows users to react to “Stories” with emojis, just as they can react on Facebook.

The feature being tested in the latest version of the app shows six emojies — clapping hands; laughing with tears; heart-eyes; shocked/surprised; sad; and fire.

It also appears that to react — and to get emoji reactions — both the user and the uploader must have the updated version of Instagram installed on their devices.

When asked about the test, an Instagram spokesperson gave IANS an affirmative answer.

Instagram
Instagram has also rolled out a plethora of new features to the app in recent times. Pixabay

“We are testing a way to make it easier to interact and get closer with your friends on Instagram,” the spokesperson said in an email on Thursday.

Also Read: Instagram Begins Question-Answer Option in ‘Stories’

Earlier, in June, the Facebook-owned platform silently rolled out a smaller version of the app “Instagram Lite” allowing users to save space on their phone and download it quickly.

Instagram has also rolled out a plethora of new features to the app in recent times, including the “emoji slider”, polls, and the newly added “Ask me a question” feature that allows users to answer questions on “Stories” in an open-ended format. (IANS)