Wow … who would have thought, Facebook tripling their profit for the first 3 months of this year. It was only a couple of years ago they didn’t have a clue how to monetize their platform. But now, they’re finding the momentum… not surprising, as the ads are now really heavily targeted.
Video Link … https://www.facebook.com/546901888681542/videos/734050959966633/
“Facebook shares have jumped after reporting a tripling of first quarter profits from a year earlier to $1.51bn. Advertising revenues rose to $5.2bn, with more than 80% coming from mobile. Facebook’s focus on live video attracted new advertisers, while sales on existing services also grew.
Mark Zuckerberg also requested that a new class of stock should be issued, so he can donate money from his shares to charity while maintaining control of the firm he founded. The company said the move would “encourage Mr Zuckerberg to remain in an active leadership role at Facebook”.
The results hugely exceeded Wall Street’s already sky-high expectations, and Facebook shares rose by more than 9% in after-hours trading. Sales for the quarter reached $5.4bn, up from $3.5bn last year.”
Source: BBC
