Facebook posts record profits as it shrugs off scandal-filled year

Electronic Frontier Foundation senior staff attorney Nate Cardozo speaks onstage during Tech Crunch Disrupt NY 2016 at Brooklyn Cruise Terminal

Electronic Frontier Foundation senior staff attorney Nate Cardozo speaks onstage during Tech Crunch Disrupt NY 2016 at Brooklyn Cruise Terminal

Facebook said Wednesday that quarterly profit climbed to an all-time record $6.9 billion as it boosted its global user base despite scandals that have dented the leading social network's image.

The social media giant also saw a steady rise in a number of its key metrics as both daily active users and monthly active users saw 9% year-on-year growth.

The monthly active users (MAUs) increased 9 percent year-over-year to 2.32 billion as of December 31, 2018, while daily active users (DAUs) witnessed the same 9-percent growth to 1.52 billion during the same period, Facebook said.

Facebook stock rose by approximately 7 percent to about $161 in after-hours trading following the release of the earnings report.

This quarter, Facebook users rise in both Europe and the U.S., regions where numbers were either flat or went down last quarter.

Facebook has vowed to invest in staff and new technology to address concerns about data protection and manipulation.

Headcount increased 42 percent year-over-year.

Facebook CEO Mark Zuckerberg has said he expects the Watch video platform to become "more mainstream" in 2019, claiming that building new experiences is one of the company's four priorities for the year ahead. "This means we're finding ways for video to grow outside of News Feed so it doesn't displace the social interactions that people primarily come to our services for", he said.

"After six and a half years at EFF, I'll be leaving at the end of next week and starting February 2019, I'll be the Privacy Policy Manager for WhatsApp", Cardozo posted on Facebook on Tuesday.

Senate rebukes Trump, advances measure on Syria troops
Trump has also ordered the military to develop plans to remove up to half of the 14,000 USA forces in Afghanistan. The US Senate voted on a final bipartisan bill opposing President Donald Trump's planned withdrawal from Syria.

At the time the report stated that Mark Zuckerburg was personally involved in the project and was pushing for its completion.

But analysts say the trust issue is crucial for Facebook if it wants to move forward on its mission to connect the world.

Although the user growth did not specifically mention of Singapore among other Southeast Asian countries, the number could not be taken for granted.

Facebook estimated that around 2.7 billion people use its family of services each month across Facebook, Instagram, WhatsApp, or Messenger.

With such figures, it is easy to imagine the interest of better unifying its 3 platforms (Facebook social network, Instagram and WhatsApp).

The company also warned that revenue growth will slow because of shifts in its advertising business. The company announced that each month, a new high of 2.7 billion people used Facebook, Instagram, WhatsApp, or Messenger. He also said the "tens of millions" Android users who now use Messenger as their default SMS app would benefit from having encryption enabled as a default.

In defense of the social network's business, 34-year old billionaire Zuckerberg argued that targeting ads based on interests was different from selling people's data.

"The internet is a massive force for change, and we are at the center of a lot of the debates that brings", Zuckerberg said.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.