Facebook posts strong profits as users grow 9%

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Facebook had 1.52 billion DAUs during the last quarter of 2018 - up nine percent year-over year - and 2.3 billion monthly active users.

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.

Facebook CEO Mark Zuckerberg at the F8 developer conference.

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New data-privacy rules in Europe may have limited this data harvesting slightly, but that's hit smaller competitors more than the two giants. Contravisory Investment Management Inc. now owns 200 shares of the social networking company's stock valued at $26,000 after purchasing an additional 121 shares in the last quarter.

Bernoff questioned whether Facebook was positioning itself for the rise of smart speakers using the likes of Google Assistant and Amazon Alexa.

It also emerged that Facebook paid children as young as 13 to install software on their phones which allowed the company to collect data on how they used its competitors' apps. He said the move is "a 2020 thing or beyond". "Advertisers are clearly still very reliant on Facebook". In our view, Facebook's network effect moat source remains in tact as demonstrated by further improvement in user monetization during the quarter.

Leo Sun owns shares of Facebook. Facebook estimated that around 2.7 billion people use its family of services each month across Facebook, Instagram, WhatsApp, or Messenger.

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Advertising revenues for 2018 were a staggering $55bn.

Facebook Stories ads and Instagram shopping. Those newer ads are less lucrative at the moment.

"Our community and business continue to grow", co-founder and chief executive Mark Zuckerberg said in an earnings call. When Facebook's Portal device for home-video chatting was launched in the fourth quarter, some consumers expressed reservations about the privacy of the product.

While employees complained on internal message boards about how hard it was to do their jobs, Chief Operating Officer Sheryl Sandberg brushed off those concerns in an interview with Bloomberg Television.

While Facebook is still the most popular social media channel in Singapore, it seems to be following the global trend of losing its younger users.

AFP reports that in 2018, Facebook had a profit of $22 billion on $55 billion revenue with advertising making up some 98 percent of revenues.

COPYRIGHT VIOLATION WARNING: "Facebook (FB) Shares Gap Up Following Analyst Upgrade" was originally published by Modern Readers and is owned by of Modern Readers. The latest period was helped by a lower tax rate.

Facebook shares jumped 11.5 per cent to $167.67 in after-market trades that followed release of the earnings. They're still down about 30 percent from a record high in July.