Facebook has been in troubled waters for quite some time now. Ever since the notorious Cambridge Analytica scandal surfaced early last year, the social media major has been (and continues to be) under intense scrutiny by governments and privacy watchdogs. However, even though these problems have definitely eroded people’s trust in Facebook quite a bit, the company seems to be doing not just fine, but great.
In its recently-outed earnings report for the fourth quarter of 2018, Facebook exceeded revenue estimates by posting a quarterly revenue of $16.9 billion. Net profit for the quarter also stood at around $6.9 billion, a 61 percent increase over the previous year. As noted by a Digiday report, Facebook’s ‘Average Revenue Per User’ (ARPU) in the United States and Canada is $34.86, in comparison to the global figure of around $7.38. Unsurprisingly, the company’s stocks jumped 7 percent after the financial figures for the fourth quarter of 2018 were released.
Perhaps even more interesting are the user metrics. Facebook now has 1.52 billion daily active users and 2.32 billion monthly active users, both an increase of 9 percent each from what it had the previous year. Other apps and social media platforms owned by Facebook – WhatsApp, Instagram, and Messenger – have a combined 2.7 billion monthly active users, and more than 2 billion users use at least one of Facebook’s digital services every day.
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Also worth mentioning is the ad revenue, which continues to get better, despite Facebook’s questionable data mining/advertising policies. The company’s COO Sheryl Sandberg revealed that Facebook now has 7 million active advertisers. While Facebook’s ongoing troubles are definitely not going to be over anytime soon, what’s clear is that as far as financial performance is concerned, the world’s largest social media platform doesn’t really have anything to worry about.