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Facebook grew even bigger and richer while you were all mad at Zuck

Despite being awash in negative headlines, Facebook Inc. turned in a stellar fourth-quarter earnings report this afternoon.

Facebook grew even bigger and richer while you were all mad at Zuck
[Photo: Pixabay/Pexels]
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Despite being awash in negative headlines over the last few months (years?), Facebook Inc. turned in a stellar fourth-quarter earnings report this afternoon, handily beating analyst expectations on profit and revenue and showing user growth across the planet, including in the United States and Europe, where growth had all but stalled in past quarters.

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Here are the key numbers from the report:

  • Revenue: $16.9 billion, up from $12.9 billion a year ago
  • EPS: $2.38, up from $1.44 a year ago
  • Net income: $6.9 billion, up from $4.3 billion a year ago
  • Daily active users: 1.52 billion on average for December 2018, up 9%
  • Average revenue per user: $7.25, up from $6.08
  • Average revenue per user, U.S. and Canada: $34.09, up from $26.26
  • Mobile advertising revenue made up 93% of ad revenue, up from 89%
  • Total users: 2.7 billion people use Facebook, Instagram, WhatsApp, or Messenger each month

Facebook and its top executives—notably, CEO Mark Zuckerberg and COO Sheryl Sandberg—have faced a numbing torrent of bad press over the third and fourth quarters of last year, including privacy scandals, stories about faulty metrics, and accusations that they sought to discredit critics with political-style opposition research.

In the wake of the ensuing scandals, the company’s share value declined significantly over the second half of 2018, but today’s rosy report could mark the beginning of a reversal. Facebook stock jumped about 8% in after-hours trading.

Image via Facebook Inc.

About the author

Christopher Zara is a senior staff news editor for Fast Company and obsessed with media, technology, business, culture, and theater. Before coming to FastCo News, he was a deputy editor at International Business Times, a theater critic for Newsweek, and managing editor of Show Business magazine

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