Yesterday Mark Zuckerberg Announced quarterly results yesterday. Facebook’s earnings topped Wall Street’s expectations excluding tax charge related to recently passed tax law. Facebook Announces Q4 2017 Earnings-Users Spending 50mn Fewer Hrs/Day.
However Facebook witnessed a significant decline in using in usage of its services and what may be the first ever drop in daily users in US.
Facebook Announces Q4 2017 Earnings-Users Spending 50mn Fewer Hrs/Day
US daily users are declining in using Facebook as social media giant to address concerns about its service being used to spread fake news and social media addiction.
Among its outstanding earnings, the social media giant has given a bad news to investors that is the marked decline in usage of its services. The total time user spending on Facebook is declined by 50 million hours a days. Mark Zuckerberg described 2017 as strong but hard year for the company.
Investors abruptly sold Facebook’s stock getting news of its usage decline. Later on Facebook executive regained the trust of shareholders during conference call with analysts. Facebook stock was back to 1.7 % after the conference call ended.
While talking about results, Zuckerberg said that:
“We’ve seen abuse on our platform, including interference from nation states. Helping people connect is more important than maximizing the time they spend on Facebook.”
Despite that decline, the company’s total daily active users worldwide rose to 1.4 billion from 1.37 billion in the third quarter.
Facebook now reaches 2.13 billion users per month and has 1.4 billion daily active users. lets see how Facebook will regain its position in social media market.