Facebook, Inc. (NASDAQ: FB) reported its fourth-quarter financial results after the markets closed on Wednesday. Analysts polled by Thomson Reuters expected Facebook to report fourth quarter revenue gains of 46 percent to $8.5 billion, what would have been the lowest rate of growth in the last five quarters. As its Q4 2016 earnings report shows, the company once again raked in cash hand over fist, with $8.8 billion in revenue and $3.56 billion in profit.
"While I don't believe ad revenues are being impacted as of yet, I do think that marketers should be vigilant in tracking the effectiveness of their advertising on Facebook and not rely exclusively on what Facebook is telling them", said Debra Aho Williamson, an analyst for eMarketer said in a statement before the earnings were released. Facebook said mobile advertising revenue comprised about 84% of total advertising revenue for the fourth quarter, up from 80% of total advertising revenue in same period past year.
Facebook's quarterly profit leapt to $3.57 billion from $1.56 billion a.
Mobile DAUs - Mobile DAUs were 1.15 billion on average for December 2016, an increase of 23% year-over-year. Facebook reported that fourth-quarter expenses grew 29% from the same period a year earlier to $4.24 billion.
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"Marketers are increasingly seeing mobile and the opportunity in it, especially mobile video", Facebook chief operating officer Sheryl Sandberg said on an earnings call.
Mobile advertising revenue represented approximately 84% of total ad revenue, the company said.
"Our mission to connect the world is more important now than ever", FACEBOOK Founder/CEO MARK ZUCKERBERG said. Our business did well in 2016, but we have a lot of work ahead to help bring people together.
Facebook finishes full year with revenues of $27.6bn.
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Overall, the biggest driver in revenue and user growth is on mobile. Facebook has now topped earnings estimates by at least 10 cents a share for its last five quarters.
Monthly active users (MAUs) were 1.86 billion as of December 31, 2016, up 17% from December 2015. Facebook -owned messaging apps WhatsApp and Messenger both have more than 1 billion monthly active users, and Instagram has more than 600 million monthly active users.
Despite ongoing concerns that Facebook could be losing ground to newer rivals such as Snapchat, it appears to keeping people coming.
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