Facebook pays CEO $1 a year despite its $480 billion value

Anna Jefferson
February 3, 2019

Facebook's total ad revenue was up 30% year over year driven by strong user engagement and increases in both demand for and supply of Facebook's ad inventory.

Instagram Stories, the Snapchat clone that is created to let Instagram users share what they're doing with their followers, now has 500 million daily active users, Facebook announced during its latest earnings call on Wednesday.

The company said fourth-quarter sales were $16.91 billion, ahead of the $16.4 billion analysts expected.

Net profit for Facebook, which makes most of its money from online advertising, was up a strong 61 per cent from the same period past year. The CFO did note the company is facing a deceleration of revenue growth in 2019. He also said the "tens of millions" Android users who now use Messenger as their default SMS app would benefit from having encryption enabled as a default.

It posted 6.88 billion dollars in net income for the fourth quarter, which represented 2.38 dollars a share, up from 1.44 dollars a share in the previous period.

Union Budget 2019: Five new measures you need to know
For senior citizens (aged 60 years or above but less than 80 years), income up to Rs 3 lakh comes free of tax. This ensures that there would be a saving of Rs 12,500 for taxpayers who earn less than Rs 5 lakh.

CEO Mark Zuckerberg followed Sandberg's comments saying the company still has a lot of work to do to monetize Facebook Stories at the same level as the News Feed.

Zuckerberg also highlighted that there are plans to messaging the centre of users' social experience in new ways.

The news comes as the company deals with its latest scandal - the use of a market research app that saw the company pay users to allow Facebook to access highly personal data on their devices.

"I'm confident that we're going to get there, but I want to make sure that we're giving the right outlook on how we expect the near future to go", said Zuckerberg.

Since the plan leaked however there has already been significant pushback, including European Union data controllers questioning Facebook's right to combine data from WhatsApp and Facebook without explicit permission from users. Daily and monthly active users were each up 9% year-on-year to 1.52 billion and 2.32 billion respectively in December.

Trump Tepidly Jabs Pelosi: 'Nancy Pelosi Should Be Ashamed Of Herself'
That was a shift from earlier in the week when Trump called for either a wall or a "physical barrier" as part of the deal. That shutdown was also sparked by Trump's insistence that any spending bill must include funds for a border wall.

The company estimates that around 2.7 billion people now use Facebook, Instagram, WhatsApp or Messenger each month, and more than 2 billion people use at least one of the four services every day on average.

Why you should care. Facebook now has an average rating of Buy and an average price target of $190.65.

Facebook CEO Mark Zuckerberg (C) testifies at a joint hearing of the Senate Judiciary and Commerce committees on Capitol Hill in Washington D.C., United States, on April 10, 2018. According to earlier Facebook stats, Watch Parties receive eight times more comments than regular videos in groups.

Facebook appears to be using Instagram to connect more with younger users and has also been ramping up its services on WhatsApp and Messenger.

Amy Gesenhues is Third Door Media's General Assignment Reporter, covering the latest news and updates for Marketing Land and Search Engine Land.

Chelsea's Batshuayi faces choice between West Ham and Real Betis loans
Sky Sports reporter Kaveh Solhekol says Chelsea have agreed to loan Batshuayi to either West Ham or another Spanish side in Real Betis.

Other reports by

Discuss This Article