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Financials reveal Facebook was a $28bn business in 2016


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Facebook announced its latest financial results yesterday, for the final quarter of 2016 and the year as a whole.

The biggest of big figures: Facebook’s revenues grew by 54% to $27.64bn in 2016, ending the year with 1.86bn monthly active users, and 1.23bn daily active users.

The social network reported a net profit of $10.22bn for the year, up 177% from 2015, and of its $8.63bn of advertising revenues in the final quarter of the year, 84% came from mobile ads.

CEO Mark Zuckerberg left analysts in no doubt about his company’s current focus, either.

“I see video as a mega-trend on the same order as mobile. That’s why we’re going to keep putting video first across our family of apps and making it easier for people to capture and share video in new ways,” he said in Facebook’s earnings call.

That includes “looking for ways to grow the ecosystem of video content on Facebook. We want people to think of Facebook as a place for interesting and relevant video content from professional creators as well as their friends” – as reported earlier this week.

Music wasn’t mentioned during the call, unsurprisingly, although with a music licensing boss now in place at Facebook, there should be opportunities for our industry to participate in Zuckerberg’s favourite mega-trend in the months to come.

Stuart Dredge

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