Record Profits for Facebook

Business | January 30, 2020, Thursday // 16:13| Views: | Comments: 0
Bulgaria: Record Profits for Facebook www.pixabay.com

The company reported quarterly profit and consumer growth

The profits of the social network Facebook exceeded expectations, but its shares are falling. The company reported quarterly profit and consumer growth, which exceeded all expectations, but its shares suffered a blow in market transactions, reported BGNES.

The leading online social network reported that its net income grew seven percent from a year ago to $ 7.3 billion, and revenue increased by 25 percent to $ 21 billion in the last three months of last year.

The number of people using Facebook monthly increased by eight percent to 2.5 billion people, and for users of all its applications, including the figure was 2.89 billion.

The company's shares fell more than 6%.

“It’s going to be an intense year with the election, some of our long-term technology bets are going to start coming to fruition,” Facebook Chief Executive Mark Zuckerberg said on a conference call Wednesday. “We have strong business momentum, and we have to get out there and show what we stand for.”

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Tags: Facebook, Mark Zuckerberg, profit
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