The social media platform’s Q2 earnings beat expectations on both earnings and revenue, with earnings of 97 cents per share and revenue of $6.44 billion.
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In June, company shareholders also approved a new class of nonvoting stock meant to allow Zuckerberg to maintain control of the tech firm even as he gives away the majority of his shares to charitable causes. Mobile advertising revenue accounted for 84% of advertising sales during the quarter, rising steeply versus 76% during the second quarter of 2015. Some 1.13 billion users logged into Facebook at least once a day in the same period, up 17% year over year.
It now has 1.71 billion monthly active users, an increase of 20 percent from a year ago. It now has more than 1.7 billion monthly users, well ahead of any rivals. “We see a world that’s video-first”, he said in a conference call with analysts. She cited ways to upsell businesses, such as targeting users who had filled out forms.
Seven summonses Meanwhile, Facebook officials failed to show up after getting seven summonses from the US Internal Revenue Service demanding internal corporate records on one of its offshore tax strategies, according to an IRS court filing. “It’s the speed with which it’s happening that’s immensely impressive”.
In April, the company’s founder and chief executive officer Mark Zuckerberg took to Facebook to announce the wider availability of the feature for users worldwide to make it easier to create and share live videos. Please see our terms of service for more information. “The company has done a really remarkable job of establishing advertising products for any kind of advertiser, small or large, and any kind of objective”, Williamson said.
The company’s Facebook Live is an area they are enticing advertisers to experiment with.
The company didn’t share many details on how video ads have performed on their own.
“This presents a big opportunity for marketers”, said Sandberg during the call.
The mission echoes the giant social network’s focus in 2012 on “mobile first”, when Facebook was having trouble making the leap from desktops to mobile devices. The number of mobile-only MAUs do not include Instagram users unless they would otherwise qualify as such users based on their other activities on Facebook. Short videos are also key because, as Zuckerberg said, “you don’t come to Facebook to watch one piece of content”. However, CFO David Wehner has warned the investors that the company expects lower growth rates in the next couple quarters.
Facebook’s stock is trading higher after it posted these results. Though Facebook is unlikely to quantify the effect of the change, look for informal remarks from the company’s management. Facebook has delivered a 59 percent increase in revenue.
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Facebook CEO Mark Zuckerberg must be a happy man today. “The guy’s done a great job”. I have no complaints on what he’s done so far, except he’s got five people on his board, he has a super majority of shares and I’m anxious.
