Neither fake news or US Congress investigation could stop the cash register at Facebook ringing after the social media network published its years revenue, recording a 47% increase to US$40 billion from US$27 billion a year before. Fourth quarter also increased by similar percentage reporting a US$12.7 billion in revenue.
Daily active users reached a staggering 1.4 billion in December with monthly active users already reaching 2.31 billion a 14% increase and the highest its peaked. Having cornered internet advertising with Google, for Facebook advertising comprised 89% of total revenue. In his statement to investors announcing 2017 financial results, Mark Zuckerberg touched on the increasing views experts have on the divisive nature Facebook is turning into on society.
“2017 was a strong year for Facebook, but it was also a hard one, “In 2018, we’re focused on making sure Facebook isn’t just fun to use, but also good for people’s well-being and for society. We’re doing this by encouraging meaningful connections between people rather than passive consumption of content. Already last quarter, we made changes to show fewer viral videos to make sure people’s time is well spent. In total, we made changes that reduced time spent on Facebook by roughly 50 million hours every day. By focusing on meaningful connections, our community and business will be stronger over the long term.”
Allegation of ad buying to manipulate voters during the US election has not stopped global advertising spend on the social site, regulators however are marking the days before they come down on powerful technology company’s. Complying to changes, Facebook has already started to apply minor tweak to its feeds and posts.