Facebook pays CEO $1 a year despite its $480 billion value
07 February, 2019, 12:53 | Author: Erin Carter
Ahead of the fourth-quarter earnings report, investors were looking for signs that the social media giant could weather last year's storms as 2018 was probably Facebook's worst year as a public company. The revenue for the quarter was $16.91 billion, which is more than estimations by analysts.
Facebook's headcount grew by 42 percent over the year, to 35,587, and the company spent United States dollars 13.92 billion on capital expenditure in the year, more than double the 2017 figure.
Investment analysts at Piper Jaffray Companies lowered their Q1 2019 earnings estimates for shares of Facebook in a research report issued on Thursday, January 31st.
During the quarterly earnings conference call this week, CEO Mark Zuckerberg used the example of Marketplace, Facebook's local ecommerce platform, to explain why the integration might make sense. Daily and monthly active users were each up 9% year-on-year to 1.52 billion and 2.32 billion respectively in December.
Facebook Inc reported revenue that beat Wall Street estimates as advertisers stuck with the social media company through a series of privacy scandals.
The move, which is meant to boost the user engagement on the social networking platform at a time when growth has slowed down for the company, has raised several security and privacy concerns from users around the world.
Besides this fact, Zuckerberg does not doubt Facebook's power of improving people's lives and transforming the world.
Facebook executives warned that expenses this year are expected to soar 40 to 50 per cent as it continues to invest in data centers, new products, and security. FMR LLC grew its stake in Facebook by 1.7% during the third quarter.
"The internet is a massive force for change, and we are at the center of a lot of the debates that brings", Zuckerbergsaid.
But analysts say the trust issue is crucial for Facebook if it wants to move forward in its mission to connect the world.
Facebook is no longer the preferred social network for the youngest age groups, at least in the United States.
Zuckerberg also confirmed plans to integrate all the company's messaging services-Instagram, WhatsApp, and Messenger-so they can chat with each other.
Advertising revenues for 2018 were a staggering $55bn. "Today, we're also announcing that 2 million advertisers are using Stories to reach customers across our family of apps".
The separation between Facebook, WhatsApp, and Instagram is about to get even blurrier.
Facebook has seen unprecedented success by amassing more than 2.3 billion people worldwide who actively use the platform to share updates, obtain information and connect with new people. "I think it's been a pretty productive day at Facebook", she said.
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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc . The unemployment rate ticked up slightly in January, from 3.9 to 4.0 percent, while wages rose 3 cents on average.
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