Facebook warns again on ad growth, shares dip from high
16:25, May 5, 2017
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Facebook added 80 million users in the first quarter, giving the service a total of 1.94 billion who frequent it at least once a month and a big boost in its ambitions to soak up billions more users around the globe.
Total revenue grew by 49 per cent year-over-year to $8 billion and advertising revenue was up 51 per cent to $7.9 billion.
Net income attributable to Facebook shareholders rose to $3.06bn, or $1.04 per share, in the first quarter from $1.73bn, or 60 cents per share, a year earlier.
Cost and expenses elevated 40% to $4.7 billion, due to increase in workforce and marketing expenses. FB says that capital expenditures for the first quarter of 2017 were $1.27 billion.
On the earnings call, CEOMark Zuckerberg said AI tools will get better over time, but it will take a "period of years" to reach the quality level that Facebook wants. We are continuing to build tools to support a strong global community.
Meanwhile, the number of people using Facebook monthly was up 17% to 1.94-billion, according to the earnings report.
Interestingly, in January 2017, Instagram had only 150 million daily active users, which means that it had witnessed a 33 percent increase in its daily user base from January to April.
The main Facebook app, Messenger, Instagram, WhatsApp, and some of Facebook's other digital offerings now sport features that were at least partially inspired by Snapchat, and many of them have been well-received by consumers so far.
Experts weigh in on Trump tax reform
The White House's presentation will be "pretty broad in the principles", said Marc Short, Trump's director of legislative affairs. Renee Ordeneaux, an audit partner at Armanino, said the tax cuts on their face appear positive for lower income families.
Wehner added that Facebook has already seen deceleration USA and Canadian markets. On Wednesday, Mr. Wehner reiterated his warning from past year that Facebook's ad revenue growth will "come down meaningfully over the course of 2017".
Facebook is the last of the top five US tech companies to report quarterly earnings. The company reported GAAP earnings of $1.04 per share, beating street estimates by a big margin of 18 cents.
Facebook has a 10-year master plan in place to hit Augmented Realitymark and Zuckerberg used the F8 keynote address platform for the goal as well.
"The revenue growth in the quarter is all the more remarkable considering the concerns that came to light late previous year around measurement issues", said Brian Wieser of the Pivotal Research Group.
Facebook Chief Operating Officer Sheryl Sandberg said during a conference call in February that the company was diversifying revenue by expanding its base of advertisers across geographic regions and industries.
Facebook is now facing a number of challenges. For now, core newsfeed and video ads are driving revenue growth, but Facebook'sMessenger and augmented reality offerings will provide the longer term growth. Even though Facebook continued to warn of a deceleration in ad load, analysts were nearly euphoric about Facebook's growth prospects, pointing to a successful transition to video and revenue possibilities with Instagram.
Facebook's long-term outlook looks strong on the back of strong monetization opportunities on its platforms across geographies as well as inroads into newer areas such as VR.
Based on overall profits, roughly 85 percent of the net income reported by the group was taxed at less than the 35 percent rate. Fourth, the tax plan - especially when coupled with Trump's budget proposals - is enormously regressive.
The Clippers took a 47-45 lead into halftime after closing on an 8-2 run, including a pair of jumpers by Luc Mbah a Moute . Hours before the game started, Rudy Gobert was upgraded to "questionable", meaning he could potentially see playing time .
Chicago gave up a lot to the San Francisco 49ers just to move up from No. 3 overall to No 2 in order to select Trubisky. It was initially believed the 49ers had multiple teams bidding for the second pick which ultimately drove up the price.
Young America's Foundation, BridgeCal and Berkeley College Republicans had invited Coulter to campus to speak on April 27. The senator's comments came after UC-Berkeley cancelled Coulter's appearance last week, citing security concerns.
If we come together out there on the floor no matter what happens, as long as we come together, we can compete with anybody". In the past this might have unsettled the Raptors, but these are not the Raptors who cower at the sight of an early deficit.
The Jazz tried to do it with Hill on a couple occasions, so don't be surprised if they do it more in Game 3 and possibly beyond. The Jazz could do nothing to stop it with starting center Rudy Gobert out of the lineup with a left knee injury.
After outshooting the Penguins 35-21 in their Game 1 loss, the Capitals came out firing with 10 of the first 11 shots Saturday. Shattenkirk is an outstanding player, and he has a lengthy track record of success in the National Hockey League to prove it.
The 28-year-old Darling had a career-best 18 wins and a 2.38 goals-against average in 32 games for the Hawks this season. I thought they sort of took it to us in that aspect (in Game 3) and forced turnovers and forced mistakes.
And on film, none of the experts are projecting these prospects to walk into the NFL and light the league on fire. You can look at that as a gamble, I look at it as buying low. "I'm guessing there's only around seven".
Flood warnings issued for Arkansas rivers following rainfall
One of the highest rainfall totals has been measured in southern Missouri with almost 10 inches in the community of Houston. Flood warnings have also been issued for the Spring River at Imboden and the Eleven Point River near Ravenden Springs.
Trump's tax plan could cost an estimated $5.5 trillion
CEOs have long complained the corporate tax rate, at 35%, is why companies are reluctant to bring funds back to America. The average state and local tax deduction claimed by New Yorkers who itemized was $21,038 - the highest in the country.
House Republicans reveal health care amendment details
Leadership views the progress made from the amendment as an encouraging sign, but the vote count remains fluid, the aide said. Lawmakers received the text of the amendment last night, but a rough outline of the plan was leaked to the press last week.
Silence of the Lambs director Jonathan Demme dies
The film worked because it was not about Hughes but about Dumont, played by Paul Le Mat (one of Demme's favorite actors). The director of Talking Heads" legendary concert film " Stop Making Sense " and "Silence Of The Lambs' has died aged 73.
Angels edge Blue Jays, 2-1
Setting up in front of Davis, Hector Rondon and Carl Edwards Jr. have combined to allow one run and three hits in 15.1 innings. Jose Martinez tied the game with his first homer, a two run shot to right in the 7th, making it a 4-4 game.
Trump tax plan leaves Congress, Ryan with heavy lift
The top rate for pass-throughs, which account for most small businesses, is 39.6 percent, the same top rate paid by individuals. The Tax Foundation says that, adjusting that for inflation, "Trump would have to cut taxes by at least $486 billion in 2018".
Nintendo Switch sales reach 2.74m within 2 months
The Switch also has a strong lineup of games for the rest of the year, which could easily keep the console selling strongly. Hardware limitations haven't stopped them in the past, I'm sure if anyone can design around them for VR then Nintendo can.
Isaiah Thomas to play Game 2, then fly to sister's funeral
Derrick Favors, who had 15 points and six rebounds for the Jazz in Game 1 , is expected to replace Gobert in the starting lineup. The Bulls scored 32 points off Rondo's assists, the most points off assists by any Bulls player in franchise postseason history.
Galaxy S8 & S8 Plus Exynos Variant Kernels Open Sourced
Unfortunately, details of the Galaxy Note 8 are still unknown, and speculations suggest that the device is already in the making. A new rumor has been circulating and according to Tom's Guide , this rumor claims only two models of iPhone will be launched .
House race in heavily GOP Kansas surprisingly competitive
Trump won 60 percent of the votes cast in the congressional district that includes the state's largest city of Wichita . All of which leads us to conclude that there are national factors that spurred Thompson's surprisingly close loss.
Erin Moran, Joanie Cunningham in "Happy Days", dies at 56
By fall 2012, the Indianapolis Star reported Moran had been kicked out of the trailer and was seen living in a motel in Corydon. Erin Moran was just 14 when she hired on to play Ron Howard's sister in the family comedy, which aired from 1974 to 1984.