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September 18, 2020
KhabriBaba
Business

Facebook revenue increases by 25%, profit of $7.34 billion

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  • Facebook posted a profit of 52,520 crores in the October-December quarter.
  • This is up 7% from the same quarter of 2018.
  • The company earned Rs 1.32 lakh crore in 2019, 16% less than in 2018.

 

Facebook posted a profit of $ 7.34 billion (Rs 52,520 crore) in the October-December quarter. This is 7% higher than the December quarter of 2018. The company then had a profit of $ 6.88 billion (Rs 49,182 crore). At the same time, the company received revenue of $ 21.08 billion (Rs 1.50 lakh crore) in this quarter.  It is 25% more than in the same quarter of 2018. The company had revenues of $ 16.91 billion (Rs 1.20 lakh crore) in the October-December quarter of 2018. However, this is the fourth consecutive quarter when the company’s revenue has grown by less than 30%.

Facebook’s profit down 16% in 2019

Facebook has released quarterly results as well as year-round results. In 2019, the company has earned $ 18.48 billion (Rs 1.32 lakh crore). This is 16% lower than in 2018. The company had a profit of $ 22.11 billion (Rs 1.58 lakh crore) in 2018. In the October-December quarter, the company has placed $ 550 million (Rs 3,930 crore) for legal expenses. Facebook is being sued for storing millions of user’s data without their permission.

Users using Facebook services grew by 11%

Users using Facebook’s services i.e. Facebook, WhatsApp and Instagram also grew by 11% in the December quarter. This 11% growth has come in Daily Active Users. As of 31 December, the number of daily active users using Facebook services reached 2.26 billion.

The company’s revenue growth was 30% in the December quarter of 2018, lower than in the four quarters of 2019.
The company received revenue of $ 16.91 billion (Rs 1.20 lakh crore) in the October-December quarter of 2018, up 30% from the previous quarter. But in the four quarters of 2019, the company’s revenue growth was less than 30%. The company’s revenue growth was 26% in the first quarter of 2019, 28% in the second quarter, 29% in the third quarter and 25% in the fourth quarter.

 

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