After seeing its stock plunge more than 60 percent this year, Meta Platforms posted another decline, with Q3 revenue falling 4 percent, to $27.7 billion, from $29 billion for the same period last year. CEO Mark Zuckerberg told analysts that on a constant currency basis “total revenue grew slightly this quarter,” adding that “we’re still behind where I think we should be, but we believe that we will return to healthier revenue growth trends next year,” though just in case “we’re planning our budget somewhat more conservatively.” Meanwhile, Facebook’s number of daily active users hit 1.98 billion, a 3 percent gain year-over-year. Continue reading Meta Revenue Falls Despite Facebook Attracting More Users

In response to COVID-19, Facebook chief executive Mark Zuckerberg and chief operating officer Sheryl Sandberg debuted the Facebook Business Suite aimed at small businesses, which are bearing much of the brunt of the pandemic. Yelp data revealed that business closures from mid-July to end of August rose 23 percent; since March, 60 percent of the business closures have been permanent. According to Facebook, the Business Suite is initially available to small businesses but will expand to larger businesses next year. Continue reading Facebook Unveils Business Suite Tools for Small Companies

With the coronavirus pandemic, advertising plummeted on many online sites, including social media giant Facebook. The company’s chief financial officer David Wehner declared that factor “largely attributable” to the 16 percent decline in average price of ads purchased in March. But gaming and e-Commerce companies picked up the slack by spending more, taking advantage of less competition in the company’s ad auctions. As a result, Facebook chief executive Mark Zuckerberg told analysts the company would “remain in growth mode.” Continue reading Facebook Ad Sales Pick Up, Resulting in Strong Q1 Revenue

Facebook’s revenue rose 25 percent to $2.11 billion for the quarter, beating analysts’ expectations of $20.9 billion. Its 2019 revenue rose almost 27 percent, with Q4 profits a 7 percent lift to $7.35 billion. The company reported that, even as expenses grew, its user base grew 9 percent from a year earlier to 1.66 billion, topping FactSet’s prediction of almost 1.65 billion. Not all is rosy, however: Facebook agreed to pay $550 million to settle an Illinois class-action lawsuit over use of its facial recognition technology. Continue reading Facebook Revenue Strong, Despite Facial Recognition Suit

In India, Facebook and Reliance Industries Limited, the latter headed by India’s richest man, Mukesh Ambani, have teamed to encourage citizens to go online and join messaging service WhatsApp. India is already the world’s fastest growing Internet market, and the two companies have sent out marketing teams that use entertainment to educate and entice people to upgrade or sign up for the first time, offering cheap phones and rates with the Reliance Jio network as well as Facebook’s popular messaging service. Continue reading Reliance and Facebook Join Forces to Find New Indian Users

Facebook reports that its Q1 profit leaped 76 percent to $3.06 billion, putting to rest concerns that video-ad performance or graphic content stymied growth. Alphabet enjoyed 29 percent growth in net profit in the same quarter, apparently undamaged by brands finding their content advertised against objectionable YouTube videos. The two tech titans currently account for 99 percent of the online ad industry’s revenue growth, says Pivotal Research, even as marketers express growing concern over fake news and live video issues. Meanwhile, Facebook continues to push new video content. Continue reading Facebook Benefits From Expanded Video Content, Digital Ads

Facebook, which is currently ranked second in Internet advertising, is reaching saturation with its ads, prompting chief financial officer David Wehner to declare that the company’s revenue growth will “meaningfully” slow in 2017. That’s forcing Facebook to experiment with more creative ways to boost ad revenue than simply pushing quantity. To that end, the company is experimenting with targeting customized ads based on the Facebook profiles tied to the IP addresses streaming shows to peoples’ Roku or Apple TV boxes. Continue reading Facing Ad Saturation, Facebook Is Now Forced to Get Creative

Facebook finished 2015 with a strong fourth quarter, with sales rising 52 percent from a year ago to $5.84 billion, and profit more than doubling from $701 million to $1.56 billion. The upswing beat Wall Street’s predictions for Q4 of $1.2 billion in profit on $5.37 billion in revenue. Investors rewarded the company by pushing its stock up more than 12 percent in after-hours trading. Responsible for the stupendous upward trend is mobile advertising, which soared to 80 percent of the company’s total ad business in Q4 2015. Continue reading Facebook Profits Skyrocket, Beating Wall Street Expectations