IMF says working intensively with Sudan to move toward debt relief    Egypt, Jordan agree to push forward efforts to settle Palestinian issue    In Photos: Early Coptic church, Roman fort and Ptolemic temple discovered at one site in Aswan    Russian judge jails Kremlin foe Navalny for 30 days initially: Spokeswoman    Atletico seek CAS resolution to Trippier case after FIFA rejects appeal    UK's Johnson criticised over lack of COVID welfare commitment    Egypt signs framework agreement with China's Dongfeng to produce electric cars    Egypt supports tourism, aviation sectors with EGP 5bn during COVID19 crisis    Egypt supports exporters with EGP 21bn during 2020    Egypt Cabinet implemented 100% of the economic reform programme, PM tells parliament    NBE: Exchange rates of key global currencies rates Monday 18-01-2021 vs. Egyptian pound    The gov't implemented 100% of the economic reform program, PM tells parliament    LIVE: Egypt v Sweden (2021 World Handball Championship)    Syria says will import more fuel to cover shortfalls caused by sanctions    Barcelona boss Koeman defends decision to start Messi after red card    Japan's PM vows Olympics will be proof of victory over virus    EXPLAINER: Italy faces a political crisis amid a pandemic    Egypt detects 890 new coronavirus cases; 56 fatalities on Sunday    Egypt's new Aflemha Online Film Festival will celebrate women filmmakers    World Bank provides $200m loan to Egypt for air quality monitoring projects    Egypt detects 887 new coronavirus cases; 54 fatalities on Saturday    In Photos: Egyptian archaeological mission at Saqqara Necropolis announces new major discoveries    Armin Laschet picked as new leader of Germany's CDU party    Egypt's Sisi discusses bilateral ties, regional developments with Sudanese delegation    Mubarak-era politician Safwat El-Sherif dies aged 88    Egypt reopens airspace and resumes flights with Qatar    Egypt, Tunisia to establish maritime trade route    Egypt eyes gradual return for tourism after revenues fall to $4 bln in 2020    Seasoned Egyptian screenwriter Wahid Hamed dies at 76    Coronavirus strikes Egypt's youth team as 17 players, coach test positive    Nassef Sawiris plans to up his stake in owner of New York Knicks, Rangers    Cairo International Book Fair suspended for five months over coronavirus concerns    Egypt unveils largest archaeological discovery in 2020 with over 100 intact sarcophagi    Trump says won't blame Egypt for being ‘upset' over GERD dispute with Ethiopia    Egypt, Ethiopia, Sudan to resume Nile dam talks today    Global Finance: Egypt's Tarek Amer among the world's top 20 central bank governors    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Facebook revenue, profit beat forecasts; shares hit all-time high
Published in Ahram Online on 05 - 11 - 2015

Facebook Inc posted surprisingly strong profit and revenue growth as the world's largest social network grew even larger, with a spike in mobile users and advertising that lifted its stock to an all-time high.
The company on Wednesday reported audience numbers that suggest it is poised to take on mainstream media as an advertising force, helping investors to overlook Facebook's huge spending on hiring and building data centers.
Facebook now has 8 billion video views per day from 500 million people, compared with 4 billion views in April.
And Facebook's website and Instagram photo-sharing app, which opened up its platform to all advertisers in the third quarter, account for more than 1 in 5 minutes spent on mobile devices in the United States, Chief Operating Officer Sheryl Sandberg said.
"In the medium to long run, we believe that we're not competing between Facebook and Instagram. We're competing with other forms of media," Sandberg told analysts on a conference call after the earnings report.
Facebook had 1.55 billion monthly active users as of Sept. 30, up 14 percent from a year earlier. Of these, 1.39 billion used the service on mobile devices.
"Growth is happening across the board and we're of course looking for a lot of growth in the future in emerging markets," Sandberg said in an interview. "We're also pretty focused on helping bring the next set of people who are not online, online."
Market research firm FactSet StreetAccount had predicted 1.53 billion monthly active users, with 1.36 billion on mobile.
Ad revenue grew 45.4 percent to $4.30 billion, with 78 percent of that coming from mobile versus 66 percent in the year-ago quarter.
"Part of the upside came from Instagram. The Instagram monetization engine has been turned on really rapidly for the coming quarters and years," said Arvind Bhatia, an analyst with SterneAgee.
Facebook did not disclose Instagram's ad sales figures. But the app is expected to bring in $595 million in mobile ad revenues this year, research firm eMarketer said.
Its ad revenue is projected to grow to $2.8 billion by 2017.
Facebook's huge $3.0 billion spending, up 68 percent from the third quarter last year, did not seem to worry investors or analysts.
"I think the investors would like the company to continue to invest given that the opportunity is pretty large," said Shyam Patil of Susquehanna Financial Group.
The stock rose about 5 percent to an all-time high of $109.34 in extended trading, before paring gains to about 4 percent. It closed earlier at $103.94.
Total revenue jumped to $4.50 billion in the third quarter, from $3.20 billion a year earlier. Analysts had expected revenue of $4.37 billion, according to Thomson Reuters I/B/E/S.
Net income attributable to stockholders rose to $891 million, or 31 cents per share, from $802 million, or 30 cents per share.
Excluding items, the Menlo Park, California-based company earned 57 cents per share, ahead of analysts' average estimate of 52 cents per share.
http://english.ahram.org.eg/News/162769.aspx


Clic here to read the story from its source.