Facebook takes the bull by the horns!

Facebook takes the bull by the horns

Since the beginning of 2016, Facebook has been the company to keep an eye on. After making a stupendous impact at the F8 conference, Facebook is once again in front of the stage with the outstanding performance displayed through its first quarter earnings reports.

After creating a buzz with its brand new reactions button 2 months ago and with its newly implemented features with its live video function, Facebook continues its ascension at the F8 conference held on the 12th of April. Marc Zuckerberg knocked Facebook’s adherents off their feet during the F8 conference as the CEO of the social network company revealed its vision for the 10 coming years. The company has already begun to reap the benefits of its changes as it displayed a quite impressive first quarter earnings report this week.

The revenue of the company surged by approximately 50 percent thus blowing all expectations. Furthermore, the shares of the company experienced a rise of 9.5 percent to $118.39. The reports also highlighted that there has been an increase in terms of users. Compared to last year’s 1.44 billion users, this year the social network company displayed 1.65 billion users. Besides, the other applications offered by the company such as Whatsapp, Instagram and Messenger conquered the users as they spent more than 50 minutes daily on these different features.

Facebook’s total revenue jumped to $5.38 billion in this quarter boosted by the advertising revenue which rose by 56.8 percent to $5.20 billion. In addition, compared to 2015, the mobile ad revenue increased by 9 percent and now accounts for approximately 82 percent of the whole ad revenue generated by the company. It seems that since the beginning of 2016, Marc Zuckerberg transforms everything he touches into gold.

Priscilla Camryn By: Priscilla Camryn