Facebook users flock to mobile as numbers rocket

Rob Sanderson, an analyst at MKM Partners, described the growth as phenomenal.

The company’s successful monetization of mobile advertising also assuaged concerns that it may have overspent on messaging service provider WhatsApp and virtual reality startup Oculus, both of which have yet to yield profits for Facebook.

Eliminating some of items, the social networking company earned 79 cents per share. Analysts on average had expected earnings of 68 cents per share and revenue of $5.37 billion, according to Thomson Reuters I/B/E/S.

Such numbers are truly commendable as they come at a time, when it is making a heavy investment in virtual reality, artificial intelligence, Internet access in remote parts of the world and a mobile ad network for services.

After returning from a two-month paternity leave, CEO Mark Zuckerberg outlined some of those plans. Almost 46 million users opened accounts in the final three months of 2015.

All that data could help Facebook deliver ads tailored for each individual’s interests even better than Google has done by analyzing search requests, emails and people’s locations, eMarketer analyst Debra Aho Williamson said.

Carousel, the ad that allows Facebook users to swipe through various products, has also drove her own company’s success for direct sales.

KitGuru Says: You have to commend Facebook.

Facebook reported fourth-quarter revenues up 52 percent year-on-year to United States dollars 5.84 billion, led by continued strong growth in mobile advertising.

Unsurprisingly, chief executive Mark Zuckerberg was pleased with his company’s performance, and hinted that more things are to come. “In 2016 and beyond, we’re going to continue…serving our community, working to bring connectivity to billions of people who’re not yet connected, and building new technologies that give people more ways to express themselves”.

The jump in shares was set to add almost $33 billion to Facebook’s market value, putting the company on track to re-enter the $300 billion club. We celebrated happy moments, from the Indian Super League to the release of Star Wars.

“I wouldn’t underestimate Facebook”, Williamson said.

Over 80 million people use Facebook Lite for slow connections, up from 50 million.

Net income for the period was booked at $3.69 billion while free cash flow for 2015 was $6.08 billion. It also reported 1.59 billion monthly users, up 14 per cent over a year ago.

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