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. 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 company offered reassurances to investors that its ad business would remain profitable, despite this big dip in usage. Michael Pachter, an analyst at Wedbush, thinks the strategy can work.

Source: Egypt Independent February 01, 2018 11:26 UTC