"Facebook rakes in the money"
will start after this message from our sponsors.
CNET News Video
CNET News Video
Facebook rakes in the money
Facebook beats estimates and makes tons of money.
In the text face we've seen a lot of social networks that just didn't make it.
Remember LiveJournal, or Friendster or MySpace?
Well it looks like Facebook will not join that list just yet.
Facebook announced it earned $8.81 billion in its quarterly earnings statement.
Earnings beat analysts estimates.
They were expecting a paltry $8.51 billion.
Of that $8.81 billion, Facebook's profit was $3.5 billion.
Last year, over the same time period, Facebook's profit was $1.56 billion.
That's a huge increase.
Facebook's monthly active user base grew to 1.86 billion.
It's daily active users were 1.23 billion, on average, for December, 2016.
There are approximately 7 billion people on Earth.
That would mean over 26% of Earthlings are monthly active Facebook users.
17% are daily users.
Think about that.
Mark Zuckerberg gave some insight into the future of Facebook, particularly Facebook Video.
He said the company is interested in videos that users upload for friends, as well as professional content.
The company is focusing on shorter form content to start.
Zuckerberg says he wants people to turn to Facebook when they want to watch new videos and return for episodic content.
That sounds like something Netflix or YouTube would try.
For more details check out cnet.com.
I'm [UNKNOWN] and I'll see you online
Netflix proves it's still growing like crazy
Paul Allen passes away at 65
Google says it won't work with Defense Department on developing...
Google says China is important to explore -- even if it means...
Twitter CEO believes platform contributes to filter bubbles