Facebook has just announced its full year financial report and the figures continue to stagger as global ad spend on digital increases the benefactors tend to be either be Google or Facebook. For the social app, last quarter was the best overall, presumably advertisers pushing their last bit to gather sales during the festive season and invested most of their budget.

While the rest of the world channel their advertising and promotion budget to social media sites, the Zuckerbergs company grew 57% in revenue over the previous year with US$26.8 bln pocketed in 2016. Most of the sales came from mobile advertising representing 84% for the quarter. Net profit was at a phenomenal 177% increase of US$10.2 bln from US$3.6bln in 2015.

Increase in overall revenue was reflected on the user interaction with the app, its daily active users was on an average of 1.23 billion with mobile users encompassing the most at 1.15 billion growing 23% year on year. Clearly Facebook has managed to lead in mobile interface with its customer, fake news reports have not impaired the company much, as it continues to surge forward.

In Malaysia, advertisers allocate 10-20% of their A&P campaign on social media marketing funding the growth of Silicon Valley, companies pay tax in US and some protect themselves using safe haven finance centres, leaving countries like Malaysia poorer without any tax income from the profits derived from Malaysian companies. Facebook will pay US$2.3 bln in taxes.