Back in 2012, Facebook made no revenues from mobile- now the social network dominates the smartphone ad market. Facebook’s user rank grew to 1.65 billion from 1.44 billion in the first quarter past year.
Advertisement
Wall Street had expected earnings of $0.62 per share off of $5.25 billion in revenue. After the announcement, the company’s shares soared by 8.8% during after-hours trading.
“This proposal is designed to create a capital structure that will, among other things, allow us to remain focused on Mr. Zuckerberg’s long-term vision for our company and encourage Mr. Zuckerberg to remain in an active leadership role at Facebook”, the company said in its earnings release.
If the proposal is approved, shareholders will receive two non-voting shares for each single share they hold.
Facebook founder and CEO, Mark Zuckerberg speaking of the achievements said that there’s more to be done, and the corporation will not rest on its oars. Even monthly mobile users also increased from 1.25 billion to 1.5 billion, which gives Facebook another reason to introduce more ads on mobile phones.
In the UK, Facebook will capture £1.43bn in display ad revenue in 2016, or a 32.1% share of display ad spending in the country, representing a 26.1% increase on previous year.
Stretch went on to say that Facebook’s directors believe that a “large part” of the company’s success has come from Zuckerberg and that he should continue to be in charge. Likewise, advertisement revenue increased 57% compared to the same period past year. “When I look out on the future, I see more bold moves ahead of us, not behind us”, the CEO said. Zuckerberg owns nearly 4 million Facebook Class A shares and 468 million or 85% of its Class B shares, giving him overall voting power of 60%.
Facebook, Inc. operates as a mobile application and Website that enables people to connect, share, discover, and communicate each other on mobile devices and personal computers worldwide.
The most important metric that the company shared was that on average, users spent 50 minutes on the company’s various platforms though considering that their popular messaging app, WhatApp wasn’t considered in the statistics the figure could be much higher.
Advertisement
The company also announced a three-for-one stock split plan.
