Facebook has released its earnings report for the last three months of 2017.
The world’s most extensive social network enjoyed a 47 percent increase in revenue in the fourth quarter of last year compared with income recorded during the same period in 2016. However, the company suffered its slowest user growth in years.
Lesser time spent on the site noted
Also, Facebook users spent less time on the site, owing to changes introduced by CEO Mark Zuckerberg.
Zuckerberg admitted that changes in Facebook’s New Feed caused a drop in the length of time of users on the network.
In a post, Zuckerberg said: “Already last quarter, we made changes to show fewer viral videos to make sure people’s time is well spent. In total, we made changes that reduced time spent on Facebook by roughly 50 million hours every day.”
The 50 million hours is equivalent to “2.14 minutes per daily user per day, or five percent of total time spent on Facebook,” a TechCrunch report said.
Facebook reported that the site recorded 1.4 billion daily users in the last quarter of 2017. That figure is an increase of 2.18 percent, which is slower when compared to 3.8 percent recorded in the third quarter.
TechCrunch described the user growth as a “sizeable slow down, and the lowest quarter-over-quarter percentage daily user growth ever reported by the company.”
It’s a different scenario, however, with regard to Facebook’s monthly users. The site’s monthly user count is at 2.13 billion, up 3.39 percent from 2.06 billion in the third quarter.
DISCLAIMER: This article expresses my own ideas and opinions. Any information I have shared are from sources that I believe to be reliable and accurate. I did not receive any financial compensation in writing this post, nor do I own any shares in any company I’ve mentioned. I encourage any reader to do their own diligent research first before making any investment decisions.
Pet cleanup charges take many travelers by surprise
From rental cars to hotels, the travel industry is now actively charging customers for pet cleanup expenses.
Agriculture markets rally as China looks at TPP compliance
China passed a law on Friday protecting foreign investments and investors. This had been a key demand from the US...
How the building envelope impacts your property investments
The building envelope is the barrier between indoor and outdoor environments. Here’s how it plays an important role in your...
What indicates the start of a bull market run?
Predicting the stock market is difficult. If it were easy, there would be a lot more millionaires in the world....
Boom and busts: Monetary inflation stemming from fractional-reserve banking
This was a constructive week for the Dow Jones, up 1.49 percent in the BEV chart.
- Sponsored2 days ago
White Label Liquid (WLAB) is the custom producer CBD investors should keep an eye on
- Featured5 days ago
5 office design trends that will attract and retain millennial workers in 2019
- Featured4 days ago
Co-working: The office space trend that keeps expanding
- Entrepreneurship5 days ago
How to use Facebook Marketplace ads to quickly boost your income