What Facebook crisis? Ad sales skyrocket to $11.8 billion, users don't #delete

What Facebook crisis? Ad sales skyrocket to $11.8 billion, users don't #delete

Facebook stock prices rose on Wednesday, after the social media giant announced in an earnings call it had added 70 million monthly users to its platform in the first three months of the year.

Facebook also added 48 million daily users; overall, the company boasts 1.45 billion daily active users-in line with Wall Street estimates and up 13 percent year-over-year-and nearly 2.2 billion monthly active users, beating estimates of 2.19 billion and also up 13 percent year-over-year.

The site has also been working towards investing its mobile initiatives as its mobile ad revenue made up about 91% of its total revenue. Many users said they would delete their accounts, raising fears that the service was facing a major crisis.

In January, Mr. Zuckerberg said the number of hours users spent on Facebook had fallen by almost 50 million hours a day in the final quarter of previous year because of changes to the platform's news feed to shift users away from passive consumption of content and toward more meaningful interactions. Daily active users were 1.45 billion, on average, for March 2018, an increase of 13 per cent year-on-year.

Zuckerberg also reiterated some of the comments made during his recent testimony to the USA senate committee, where Facebook was accused of failing to protect the privacy of millions of users, specifically relating to the Cambridge Analytica data leak and Russian interference in the U.S. presidential elections in 2016.

Facebook stock gained more than 4 per cent in after-hours trading and was up 7 per cent following its conference call. Facebook will still maintain "a very strong position" relative to the rest of the ad industry she said.

Heading into the earnings result, analysts were concerned about how much an ongoing backlash among users, advertisers and politicians on both sides of the Atlantic could slow down a company once viewed as unstoppable.

Facebook in its reply recently admitted that an app in 2013 had illegally collected data of half a million Indians and sold it to Cambridge Analytica.

Lloyds Bank just misses forecasts with £1.6 billion first quarter profit
The stock showed monthly performance of N/A. (NYSE: LYG ) has 2 ratings reports on April 24, 2018 according to StockzIntelligence. YTD calculations are commonly used by investors and analysts in the assessment of portfolio performance due to their simplicity.

Facebook also said it expected the number of users across Europe to stop growing or even drop as the General Data Protection Regulation, a sweeping set of digital-privacy rules, comes into force on May 25.

The tool, which is also being tested in Canada, follows a scandal involving the political consultant Cambridge Analytica that has stoked concerns about privacy on the social network.

However, "from now on", says the video, "Facebook will do more to keep you safe and protect your privacy".

The company declined to provide some details sought by analysts.

"While we don't expect the changes will have a significant impact on ad revenue, any change in our ability for us and advertisers to use data can impact our optimisation potential at the margin", he said.

The bump in figures also testified to the resiliency of the company's targeted ad-based business model.

"Facebook is so large that it would take a lot of user defections to make a difference", eMarketer principal analyst Debra Aho Williamson said in a recent report.

Zuckerberg said the two days of hearings this month were "an important moment for the company to hear the feedback, and to show what we're doing".

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