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Facebook revenue grew 17 percent, Posted $4.9 billion profit in Q1 2020

30Apr By AnkitaNo Comments

BUSINESS

Facebook revenue grew 17 percent, Posted $4.9 billion profit in Q1 2020

World's leading social media platform Facebook reported a profit of $4.9 billion on revenue that grew 17 percent to $17.4 billion during the first quarter result of the year. Facebook also reported a sharp jump in usage as the global pandemic in a quarterly result. The shares of social media platform climbed some 10 percent. "Our work has always been about helping you stay connected with the people you care about," said Mark Zuckerberg, Facebook founder and CEO. "With people relying on our services more than ever, we're focused on keeping people safe, informed and connected." Facebook Q1 2020 Result Facebook's daily active users were 1.73 billion on average for March 2020, an increase of 11% year-over-year. Facebook monthly active users were 2.60 billion as of March 31, 2020, a...

Google India’s Sales Hits Billion Dollar This Year

[dropcap]G[/dropcap]oogle India has crossed $1.11 billion dollar sales mark (turnover of Rs 7,208.9 crore) in the year March, 2017. These figures shows a jump of over 22.1% from the previous year's Rs 5,904 crore. Sales has witnessed an expansion of 44% this fiscal as per the report by TOI. Although the local business of Google India grew at half-a-pace this year in comparison to the last. It's rival Facebook however nearly doubled its revenues in the country indicating preference by marketers to advertise on platforms other than Google. Google also provides other Internet related services in India such as cloud based computing, digital payments etc. but the major revenue comes from its adverting sector where it displays ads next to the search results. Although in various sect...

Facebook’s Quarterly Revenue Surges 50.8%, Generate $29.71 Billion in 2017

Facebook Inc's quarterly revenue surged 50.8 percent as the world's largest social network continues to benefit from its aggressive push into mobiles and video. Mobile ad revenue accounted for 84 percent of company's total advertising revenue of USD 8.63 billion in the fourth quarter ended Dec. 31, compared with 80 percent a year earlier. Analysts on average had expected total ad revenue of USD 8.31 billion, according to research firm FactSet Street Account. The strong results allay some concerns after the company warned in November that ad growth would likely slow "meaningfully" due to limits on "ad load" - the total number of ads Facebook can show to each user. Facebook is expected to generate about USD 29.71 billion in mobile ad revenue in 2017, according to research firm eMarkete...