Facebook users are spending a lot less time on the world’s most famous social network. The company is not overly concerned though, having recently recorded growth in quarterly profits.
In its latest earnings report Facebook said on Wednesday that profit in the final three months of last year climbed 20 percent to $4.26 billion (€3.43 billion) as ad revenue grew and the number of monthly active users hit 2.13, a 14 percent increase from a year ago.
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Mobile ad income represented approximately 89 percent of advertising revenue for the fourth quarter while total revenue leapt 47 percent to nearly $13 billion. At the same time expenses also rose as its ranks of employees grew to finish the year at 25,105 workers.
The report also noted that the number of daily users in the US and Canada fell for the first time in Facebook’s history and that at the end of last year time spent by users globally had fallen by about 50 million hours a day.
The company offered reassurances to investors that its ad business would remain profitable, despite this big dip in usage.
On a conference call executives said that they saw more chances to make money even if people spend less time on Facebook and that the changes would be healthy for the business in the long term and might not even hurt much in the short term.
For more read the full of article at The Dw
