Embattled social-media giant, Facebook has released its Q1 2018 ended March 31, 2018, financial report. The result shows a 48.9% growth in revenue from $8.03 billion in Q1 2017 to $11.98 billion in Q1 2018.
Despite Facebook’s image crisis caused by its involvement with Cambridge Analytica, a data analytics consultants that work for politicians across Europe, Africa, and America, its revenue from advertising grew by 50% from $7.86 billion in Q1 2017 to $11.8 billion Q1 2018.
Its earnings per share also increased by 63% from $1.04 in Q1 2017 to $1.69 Q1 2018.
Mark Zuckerberg, Facebook founder, and CEO acknowledge huge challenges the business is facing.
In his words:
“We are taking a broader view of our responsibility and investing to make
sure our services are used for good. But we also need to keep building new tools to help people connect, strengthen our communities, and bring the world closer together.”
First Quarter 2018 Operational and Other Financial Highlights
- Daily active users (DAUs) – DAUs were 1.45 billion on average for March 2018, an increase of 13% year-over-year.
• Monthly active users (MAUs) – MAUs were 2.20 billion as of March 31, 2018, an increase of 13% year-over-year.
• Mobile advertising revenue – Mobile advertising revenue represented approximately 91% of advertising revenue for the first quarter of 2018, up from approximately 85% of advertising revenue in the first quarter of 2017.
• Capital expenditures – Capital expenditures for the first quarter of 2018 were $2.81 billion.
• Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $43.96 billion at the end of the first quarter of 2018.
• Headcount – Headcount was 27,742 as of March 31, 2018, an increase of 48% year-over-year.