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27 July 2017, 05:45 | Dan Bryan
Credit CC0 Public Domain
Wehner was emphatic that early efforts in Messenger monetization will not offset the expected revenue slowdown in the latter half of the year due to Facebook's plan to stop blocking ad blockers on desktop and its increased investment in video, where there are fewer impressions to be had. Analysts expected earnings per share of $1.11 on revenue of $9.2 billion.
Advertising revenue came to $9.16 billion for Q2, up 47 percent year-over-year.
Mobile is still Facebook's world, with 87 percent of the company's revenue coming from ads that show up on smartphones. The company has 1.32 billion daily active users, also up 17 percent.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, May 3rd. Zuckerberg mentioned earlier that both Instagram and Whatsapp's Stories features have 250 million daily active users, respectively.
Facebook as of yet has not said the amount of revenue that is attributable to Instagram, although the app for photo sharing has become more of a focus for the business. WhatsApp itself has 1 billion daily active users too. However, it's "still early on the monetization side" for WhatsApp.
Facebook said it ended the quarter with $35.45 billion in cash and equivalents and marketable securities.
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Facebook is clearly trying to walk a fine line between trying not to annoy its users and making money from them, so it is now beta testing ad products with a small number of users on Messenger. "The more we can tie ad viewing to sales, the stronger our case is with our clients", said Sheryl Sandberg, Facebook's chief operating officer.
Recent Trading for Facebook, Inc.
Shares of Facebook closed Wednesday at $165.61, with a consensus analyst price target of $172.47 and a 52-week range of $113.55 to $166.17.
Facebook is building more data centres to handle the surge in video traffic on its websites and is also on a hiring spree. Total headcount is up to 20,658, up 43 percent from this time previous year. "I want to see us move even faster".
The company's Messenger application is trying to make money from users' relationships with businesses. Facebook has warned about maximum loads on the News Feed, and slowing seemed inevitable anyway as the revenue base has reached such as massive scale.
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