Facebook quarterly profit doubles as user ranks grow

(San Francisco) -- Facebook quarterly profit more than doubled as its ranks swelled during the past year to a mammoth user base of nearly 1.6 billion, it said Wednesday.

See Full Article

"Our community continued to grow and our business is thriving," said Facebook co-founder and chief executive Mark Zuckerberg in releasing quarterly results for the world's biggest social network which comfortably exceeded expectations.

It reported a profit of $1.56 billion in the final three months of 2015 as compared with making $701 million in the same period a year earlier.

Revenue in the quarter that ended on December 31 rose to $5.84 billion from $3.85 billion the prior year.

The results showed Facebook's growing power in online advertising, especially on mobile devices. Mobile accounted for about 80 percent of the network's ad revenue in the quarter.

Net profit for the full year climbed to $3.7 billion from $2.9 billion in 2014, while revenue jumped to $17.9 billion from $12.5 billion.

"2015 was a great year for Facebook," Zuckerberg said.

"We continue to invest in better serving our community, building our business, and connecting the world."

An average of 1.04 billion people used Facebook daily in December in a 17 percent rise from the same month the prior year.

The number of monthly active users in December was 1.59 billion, in a 14 percent climb from a year earlier, according to the social network.

Facebook shares soared more than 12 percent to $106 in after-market trades that followed release of the earnings figures.

Ongoing innovation

California-based Facebook has been relentlessly innovating to keep its social network tuned to Internet-age lifestyles.

The company has been working its way into online commerce, honing ad technology, ramping up video, and even dabbling with building machine smarts in its Messenger smartphone messaging application.

Facebook-owned Oculus this month began taking orders for much-hyped Rift virtual reality head gear, set to begin shipping later this year.

Zuckerberg said during an earnings call that he is happy with pre-orders for Rift, which was priced at $599, but did not disclose specifics.

"It is ultimately going to change the way we communicate and live and work in addition to how we play games," Zuckerberg said of virtual reality.

"I think we are off to a good start."

Also this month, Facebook announced a drive to be a place for sports, with a new online hub for news and sharing on sporting events.

The "Facebook Sports Stadium" will offer live updates of scores, posts from friends and commentators, as well as information on where to watch games live.

Facebook also recently announced an agreement with Nielsen to improve how it measures the social media impact of TV shows, a useful means of assessing the size of an audience.

Nielsen created an indicator called the Nielsen Twitter TV Ratings in 2013 after long being criticized for failing to adapt to the changing ways in which people watch television.

It allowed Nielsen to measure the number of Internet users sending tweets while watching a program, and also the number of people who see those tweets.

Now this tool is being expanded to include Facebook comments.

Industry tracker eMarketer expects Facebook to continue to dominate when it comes to online display advertising.

It expected Facebook to bring in $9.86 billion in US display ad revenue this year, capturing 30.6 percent of the money spent on those types of ads in the country.

"Everything we hear from agencies and marketers is positive," said eMarketer principal analyst Debra Aho Williamson.



Advertisements

Latest Tech & Science News

  • Researchers devise more accurate way to measure oilsands air pollutants

    Tech & Science CTV News
    CALGARY - Federal government scientists say they have devised an accurate way to directly measure air pollutants from oilsands mines and suggest industry estimates for certain harmful emissions have been much too low. The research, published Monday in the Proceedings of the National Academy of Sciences, focused on volatile organic compounds, or VOCs - carbon-based substances that can be damaging to the environment and human health. Source
  • Fossil find reveals skunk-sized predator roamed Egypt 34 million years ago

    Tech & Science CBC News
    Scientists have discovered a small, skunk-sized mammalian predator with a fearsome set of teeth that roamed what is now modern-day Egypt 34 million years ago. In a paper published in PLOS ONE, scientists detail Masrasector nananubis, a land-dweller with muscular legs like a Rottweiler. Source
  • Asteroid named 'Garyboyle' after Canadian astronomer

    Tech & Science CTV News
    Asteroid 22406 no longer bears just a number in a solar system full of rocky objects orbiting our sun; it now carries the name of Canadian astronomer Gary Boyle, making it one-of-a-kind. The asteroid was first observed on August 22, 1995 by astronomers in Tucson, Ariz. Source
  • Human-influenced extreme weather has been felt across the globe: study

    Tech & Science CBC News
    Most people on Earth have already felt extreme and record heat, drought or downpours propelled by man-made global warming, new research finds. In a first-of-its-kind study, scientists analyzed weather stations worldwide and calculated that in 85 percent of the cases, the record for hottest day of the year had the fingerprints of climate change. Source
  • Virtual reality tool teaches Canadians about dangers of taking on trains

    Tech & Science CTV News
    MONTREAL - Rail safety advocates are using virtual reality to highlight just how dangerous it can be to cross or trespass near train tracks. Operation Lifesaver, a public-private partnership that promotes awareness of safety issues around crossings, launched a campaign Monday to mark the beginning of Rail Safety Week. Source
  • Man-made extreme weather has hit all over the world: study

    Tech & Science CTV News
    WASHINGTON -- Most people on Earth have already felt extreme and record heat, drought or downpours goosed by man-made global warming, new research finds. In a first-of-its-kind study, scientists analyzed weather stations worldwide and calculated that in 85 per cent of the cases, the record for hottest day of the year had the fingerprints of climate change. Source
  • Canadian Space Agency narrows astronaut candidates down to 17

    Tech & Science CBC News
    They are doctors, they are engineers, they are scientists — and they are the next group of Canadians who may one day find themselves staring down on Earth from the International Space Station. On Monday, the Canadian Space Agency together with Navdeep Bains, Minister of Innovation, Science and Economic Development, announced the newest 17 astronaut candidates, the last remaining from 3,772 applicants. Source
  • Wolf pup born in Missouri offers hope for endangered breed

    Tech & Science CTV News
    EUREKA, Mo. -- A Mexican wolf born this month at a wildlife centre in suburban St. Louis is offering new hope for repopulating the endangered species through artificial insemination using frozen sperm. The Mexican wolf population once roamed Mexico and the western U.S. Source
  • Japan's Nikon sues ASML, Zeiss over chip-making technology

    Tech & Science CTV News
    TOKYO -- Nikon Corp. said Monday it has taken legal action in the Netherlands, Germany and Japan over the use of semiconductor lithography technology in products made by Dutch and German companies. Nikon said it is seeking to stop Dutch company ASML Holding N.V. Source
  • Wax worm has an appetite for plastic, researchers discover

    Tech & Science CTV News
    Spanish researchers have discovered that a worm often found in beehives is also capable of breaking down one of the most common forms of plastic. Research scientist Federica Bertocchini, who works for the Spanish National Research Council, has discovered that wax worms are capable of biodegrading polyethylene, the tough stretchy plastic used to make shopping bags, plastic wrap and other things. Source