January 29th, 2016
Facebook Doubles Profits in Fourth Quarter
With more than 1.59 billion active monthly users, Facebook is undoubtedly the most popular social media platform in the world. It can be used to communicate with friends, stalk old acquaintances and even play games, meaning that there is something for everyone to enjoy.
Recently, the company announced that in the final quarter of 2015, its profits more than doubled. For the 3 month period of October to December, net profit increased to $1.56bn (£1.09bn), which is more than double the $701m that they had made previously.
The social media giant has also reported that 80% of its advertising revenue comes from mobile advertising, compared to 69% just a year earlier.
In after-hours trading in New York, shares jumped 8.7% which was better than anyone had expected.
The total revenue for the year increased by 44% to $17.9bn and annual net profit saw a rise of $800m to $3.7bn in total.
These results mean that Facebook has now beaten the expectations of analysts for ten quarters in a row, which is a great achievement.
Facebook’s recent success is perhaps due to the amount of effort they have been putting into improving the user experience and pushing advertising on the site. In the past few months, they have introduced live streaming, profile videos and a music sharing app, just to name a few!
The company’s CEO, Mark Zuckerberg, said that is has been a “great year for Facebook. Our community continued to grow and our business is thriving.”
The number of people using Facebook is growing each and every day. If your business isn’t visible on social media, you will miss out on the chance to connect with existing and potential customers.
Piranha can help you to engage with your target audience using social media, which will boost brand awareness and increase your online sales. Please call 01772 888 331 or email [email protected] to find out more!< Back to Blog