NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
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: 526


 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

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Oil magnate faints in court during N7.3bn fraud...

Ladoja appeals to Oyo secondary schools NASU to...

2 million Nigerian embrace UNICEF’s social media platform...

Lawyers key to development of maritime sector —...

Kachikwu, Oho, Oweh, Adjogbe, Azinge, I go Dye,...

CBN, RIFAN set to crash rice prices

No one – not even Buhari or Saraki...

Jonathan’s government is an agent of darkness —APC...

NEMSA to prosecute importers of fake electricity meters...

Wike approves Madrid Pre-CAF Champions League Tour for...

Imo Govt. gives one-week ultimatum to mechanics

Assets declaration: 95 politicians return forms in Kano...

 

Latest News Rethinking Nigeria’s development with Bill Gates, Okonjo-Iweala, By Adele Adeniji Still on Buhari’s verdict on Nigerian youths, By Jerome-Mario Utomi Armed bandits abduct housewives in Kaduna Cybercrime: UK sends 2 Nigerians to prison Brave worshippers capture suicide bomber inside mosque 41 items still banned under Nigeria-China currency swap deal – CBN Pope Francis unveils 14 new cardinals, no Nigerian on the list Anambra to revive over 200 skill acquisition and entrepreneurial centres New HIV infections among pregnant women raise concerns Why Okorocha wants Nwosu to be Imo Governor in 2019, By Collins Ughalaa Certificate Scandal: HEDA asks SFU to investigate Senator Omisore dumps PDP for SDP ahead of 2019

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (344,945 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (341,565 views) Shameless Genevieve Nnaji exposes breasts in public (273,082 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (224,504 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (204,981 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (202,477 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (176,695 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,002 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,035 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,168 views) Lagos plane crash: Journalist releases victims’ names (139,833 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,242 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (40) Business & Economy (3,136) Business Verdict (43) Columnists (853) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (497) Features (594) Global Business Monitor (273) International (1,964) Interview (149) Live Commentary (28) Love Matters (119) News (35,442) Opinion (953) Pidgin (10) Politics (5,021) Religion (742) Sports (1,512) Stock Watch (28) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement