Despite the controversy surrounding Facebook, a social media company that manages Facebook, Messenger, WhatsApp, and Instagram, their latest report shows a significant increase in revenue and user base. On January 30, the Californian-based company revealed its revenue for the fourth quarter of 2018 and throughout the past year.
Facebook’s Report Shows an Increase in Revenue and User Base
Facebook has released its financial report which also shows the growth of users on its platform. According to the company, 93% of the advertising revenue in the fourth quarter of 2018 was raised through mobile advertising. This is an 89% increment from the advertising revenue in the fourth quarter of 2017, said the social media company.
In the case of its users, Facebook reported that about 2.7 billion people around the world are now using Facebook, Messenger, Instagram, or WhatsApp every month. Likewise, over 2 billion people use at least one of these platforms each day. It is also worthy to note that Facebook has pointed out an increase in the number of duplicated and fake accounts, which account for 225 million and 116 million, respectively.
1.52 Billion Active Users on a Daily Basis in December 2018
On a brighter note, Facebook stated that on the average, there were 1.52 billion active users on a daily basis in December 2018. They added that this signifies a 9% year-over-year increase. On the other hand, 2.32 billion users were recorded on the platform as of December 31, and this represents a 9% year-over-year increase.
According to The Verge’s report, this increase in user base is a 1.8 percent increment in comparison to the third quarter of 2018. Moreover, the number of users in the US and Europe have increased whereas there was a slight decline in the previous quarter. That being the case, it shows that the company has maintained its upward trend despite the recent privacy issues.
Facebook Faces Privacy Issues
Notable among these issues is the Cambridge Analytica scandal where about 50 million logins were stolen. The latter was as a result of a security flaw on the platform which may have granted hackers the access to steal these logins. Facebook, on the other hand, later announced that the bug had been fixed and authorities informed.
On January 30, BTCNN reported that Apple had blocked some Facebook apps on the iPhone. The latter was as a result of Facebook’s unauthorized installation of a data tracking app on iOS devices. This led to the revoke of the company’s certificate which has affected other apps like Instagram, and Messenger which were running on iPhones.