NewsExpress advert Yudala banner
Facebook and Microsoft overshoot revenue expectations

By Barry Eitel, San Francisco on 01/02/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 395


 Facebook and Microsoft both released quarterly earnings reports Wednesday, with both companies beating analyst expectations for revenue.

Facebook revenue for its fourth fiscal quarter of 2017, which ended Dec. 31, hit $12.97 billion, up 48 percent from $8.8 billion for the same period in 2016. Revenues bested Wall Street expectations of $12.55 billion. Profit also increased from $3.6 billion to $4.3 billion.

Microsoft reported a 12 percent quarterly revenue increase, earning $28.9 billion for its second quarter of fiscal year 2018, which ended on Dec. 31 as well. This figure beat expectations of $28.4 billion and Microsoft posted a quarterly profit of $7.5 billion.

“2017 was a strong year for Facebook, but it was also a hard one,” Facebook CEO Mark Zuckerberg said in a statement. “In 2018, we’re focused on making sure Facebook isn’t just fun to use, but also good for people’s well-being and for society. We’re doing this by encouraging meaningful connections between people rather than passive consumption of content.”

Facebook said that it had 2.13 billion monthly active users and 1.4 billion daily users. Daily users increased just 2.18 percent compared to last quarter, the slowest quarter-over-quarter growth ever posted by Facebook. However, Zuckerberg suggested that this was by design.

“Already last quarter, we made changes to show fewer viral videos to make sure people’s time is well spent,” he continued. “In total, we made changes that reduced time spent on Facebook by roughly 50 million hours every day. By focusing on meaningful connections, our community and business will be stronger over the long term.”

Microsoft said its quarterly growth was driven by cloud computing sales – its revenue from its Azure cloud service nearly doubled.

“This quarter’s results speak to the differentiated value we are delivering to customers across our productivity solutions and as the hybrid cloud provider of choice,” Microsoft CEO Satya Nadella said in the report.

Both companies saw their shares plummet in after-hour trading right after the reports were released, but the stocks then rose. At $95.19, Microsoft stock was up 0.19 percent compared to Wednesday’s close. Facebook shares were trading at $189.35 after the bell, a 1.32 percent compared to the day’s closing price. (Anadolu Agency)

Source News Express

Posted 01/02/2018 1:17:38 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
How to do a Market Anaysis for a...

Enugu mystery ‘Pool of Bethesda’ dries up

EKAETTE UNOMA AKPABIO: Undying hope on the dais...

EFCC files 7-count charge against PDP Spokesman Olisa...

Police gets 19 new AIGs •Mbu, Manko top...

Housewife in police net for torturing 4-year-old step...

PPA governorship candidate berates Igbo leaders on the...

Ohakim to Imo people: Emulate the virtues of...

Access, Airtel, Innjoo Mobile, News Express, others endorse...

Corruption: Ganduje to sanction erring civil servants

Restructuring tops agenda as Yoruba convoke in Ibadan...

EFCC slams six-count charge on Ex-NNPC GMD Andrew...

 

Latest News Lagos Pastor who survived Badoo attack slumps and dies during church service Boko Haram suspect nabbed in Edo Resign if you can’t pay workers, TUC tells governors Enugu EXCO awards N1.04bn road contracts Troops kill 5 Boko Haram fighters, capture commander Lagos police gives 2 wks to pump action riffles owners to verify, re-validate licence India offers free breast implant, surgeries Nigeria building Africa’s biggest Free To Air TV platform, says Minister Air Peace breaks record with delivery of new B777 aircraft Shortage of workers threatens Trump’s economic agenda CDHR condemns abduction of Dapchi school girls, calls for intensive rescue efforts Emefiele dedicates Silverbird Award to CBN staff •He is a humble, silent achiever — Akpabio

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (326,894 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (318,885 views) Shameless Genevieve Nnaji exposes breasts in public (255,554 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (209,606 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (195,123 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (188,236 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (163,940 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (147,225 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (140,701 views) Lagos plane crash: Journalist releases victims’ names (129,993 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (128,668 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (123,497 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business (2,908) Business Verdict (34) Columnists (806) Complaints & Requests (94) Enterprise & Opportunities (203) Entertainment (447) Features (549) Global Business Monitor (226) International (1,806) Interviews (143) Live Commentary (28) Love Matters (105) News (33,102) Opinion (885) Pidgin (10) Politics (4,522) Religion (684) Sports (1,440) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement