14 DAY TRIAL // Facebook just released its first quarter results, and it’s probably no surprise to anyone that the company managed once more to beat what analysts had forecast in terms of profits and earnings.
After Yahoo’s flop, openly admitted by CEO Marissa Mayer, Facebook came forward to show its supremacy as the world’s biggest social networking platform, and announced that the company had managed to score bigger profits than foreseen, as well as a growing number of active users.
The release comes to show everyone that the company is still going strong despite rumors that the company might be heading towards a slow downfall in light of constantly resurfacing privacy issues and reports that showed that the younger population is prone to choose other more appealing social platforms.
The CEO is satisfied with the results
“This was a strong start to the year," said founder and CEO Mark Zuckerberg in a statement on the official page.
Facebook reported an increase of about 12 percent in mobile advertising revenue compared to the previous year, which shows that a growing number of people use their smartphones to access the social website.
Furthermore, there was an increase of about 46 percent in revenues from advertising. This proves that Facebook depends on making money from advertising on its site, making it very likely for the company to start concentrating more on online marketing, which, unfortunately for the users, could mean even more ads on the page.
Although profits managed to surpass what analyst had predicted, that was not the case for revenues which were a bit lower than expected, showing a decrease of around 20 percent compared to the previous year results.
However, Zuckerberg did declare several times that people got the wrong idea that Facebook is doing everything only to reach its financial purposes.
During the launch of Internet.org in Colombia, he said that if he were solely concentrated on making a lot of money, then he would “take the engineers and the people who are working on Internet.org and spreading connectivity around the world and have them go work on our ads product,” Taipei Times reported.