New York (AFP)
Facebook continued to attract mass users and revenue in the fourth quarter despite the multiple controversies the group faces, but this growth was fueled by a spike in spending.
The title fell more than 6% Wednesday in electronic trading after the close of the stock market.
However, the group saw its turnover jump 25% to $ 21.1 billion between October and December. At the same time, net profit rose 7% to $ 7.3 billion, which adjusted per share was $ 2.56 above market expectations.
Despite strong criticism of its management of member data and the word of politicians, the social media giant continues to attract internet users: Facebook now has 2.5 billion monthly active users (+ 8% over one year ) and 1.66 billion daily active users (+ 9% over one year).
Including the Instagram, WhatsApp and Messenger applications, the number of daily users climbs to 2.26 billion (+ 11%) and that of monthly users to 2.89 billion (+ 9%).
"We had a good quarter and a solid end of the year with the continued growth of our community and our activities," soberly commented the boss of the company, Mark Zuckerberg, quoted in a press release.
But the amount of Facebook spending also soared, by 34%, to reach $ 12.2 billion over three months.
Facebook has invested heavily since 2018 to restore trust, from data leakage scandals and disinformation campaigns conducted on its platforms.
The number of its employees has further increased, the group employing 44,942 people at the end of 2019, i.e. 26% more than last year.
Over the whole year, the group earned $ 18.5 billion in net profits, down 16%. But adjusted per share, it comes down to $ 6.43, which is higher than analysts' forecasts.
Turnover jumped 27% in 2019 to reach $ 69.7 billion.
© 2020 AFP