Facebook Earnings Reports Are Positive

  Facebook reported net income of $ 11.22 billion, or $ 3.88 per share, in the fourth quarter. Revenue increased 33 percent to $ 28.07 billion, compared with $ 7.35 billion in profit or $ 2.56 per share in the same period the previous year.

Analysts' forecast was $ 3.54 per share on sales of $ 26.41 billion.

Zuckerberg said, "I want to emphasize that we see Apple as one of our biggest competitors." "iMessage is an important weapon of their ecosystem. It comes pre-loaded on every iPhone. Thanks to the addition of custom APIs and permissions, iMessage is the most used messaging service in the US." The application programming interface allows developers to integrate their applications with popular software platforms. In the earnings newsletter, Facebook CFO David Wehner said the company has benefited from changing trade online during the Covid-19 outbreak. “Given our strength in products sold through online commerce, we believe this shift is fueling a momentum for our advertising business in the second half of 2020." Wehner also stated that legal changes in Europe and the US could affect the company's growth this year. Over the past quarter, Facebook grew its member base more than Wall Street had anticipated, surpassing daily and monthly active user estimates. Facebook announced that a total of 3.3 billion people used one of its main products each month in the fourth quarter. (Wall Street's estimate was 3.2 billion users) Facebook executives stated that in 2021, the total expense of between $68 billion and $73 billion and capital expenditure of $21 billion to $23 billion is mostly due to the need for data centers, servers and other network infrastructures. Facebook said it plans to repurchase an additional $25 billion worth of shares. The company recorded at the end of last year that it had $61.95 billion in cash and equivalent assets. Facebook Earnings Reports are Positive Source: https://www.marketwatch.com/ You may also be interested in this:

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