36.1 F
New York
Wednesday, January 20, 2021

Facebook Inc (FB) Founder and CEO Mark Zuckerberg keep on rising in the rich list

Must read

Argo Blockchain PLC (OTCMKTS:ARBKF) Rockets 70% On Positive Triggers

The blockchain and cryptocurrency mining companies have been in focus among investors over the past weeks owing to the strong rally in...

Galaxy Next Generation Inc (OTCMKTS:GAXY) Extends Rally on Unusual Volume

The realities of the coronavirus pandemic have spawned a range of new products, and some of the innovations...

Grayscale Bitcoin Trust (Btc) (OTCMKTS:GBTC) Consolidates After Solid Rally

There have hardly been many bigger stories in the year than the roaring comeback made by Bitcoin. That has come as a...

Northwest Biotherapeutics, Inc (OTCMKTS:NWBO) Witnesses Bullish Momentum

One of the notable movers among biotech stocks of 2020 has been Northwest Biotherapeutics, Inc (OTCMKTS:NWBO), and last week, the stock was...

On Wednesday July 27, 2016, Social network giant Facebook Inc (NASDAQ:FB) has reported another outstanding quarter of growth, with profit jumping 186% from similar period last year.

Facebook Inc (FB) managed to earn $2 billion in the period from April to June, up from $719m in 2015.Analysts were expecting revenue of $5.8 billion, and Facebook even beaten those tall expectations grabbing $6.4 billion in revenue.

Company added about $5 billion to its market capitalization and briefly touched a valuation of about $362 billion after the announcement.

Chief executive Mark Zuckerberg noted that he is predominantly pleased with the growth in video. “Our community and business had another good quarter,” he said, “We’re particularly pleased with our progress in video as we move towards the world where video is at the heart of all our services.”

According to Bloomberg, Company stock jump also sent the net worth of Zuckerberg, soaring to $US56.4 billion, past that of either Charles or David Koch, oil barons who are worth $US54.8 billion each.

Facebook was trying to encourage businesses to experiment with video and rolling out new advertising platforms for mobile ads.

Mobile advertising rose to 84% of Facebook’s ad revenue in the latest period up from 76% last year. The company has profited from an entry of advertising money moving away from television and on to digital platforms.

The number of monthly-active-users, a key measurement for advertisers rose by 15% to 1.71 billion as of 30 June 2016. In contrast, Twitter’s MAU rose by mere 3% in that period.

The number of daily active users surpassed one billion for the first time. The time spent on the site by daily users also rose.

According to Bloomberg, Facebook’s stock jump also sent the net worth of Zuckerberg, soaring to $US56.4 billion, past that of either Charles or David Koch, oil barons who are worth $US54.8 billion each.

Facebook has been pushing new services, including photo and video-sharing on Instagram and its messaging apps.

The company has also made advertisers to try new ways of getting their targets, including the new Facebook Live feature, where users can watch live streaming videos.

Facebook Inc (NASDAQ:FB) revenue increased in all parts of the world, rising 19% in Asia and 21% in Europe.

Latest article

Signal Advance Inc (OTCMKTS:SIGL) Makes a Big Move, Again.

Speculation and confusion can often lead to strange occurrences on the stock markets and that is what happened...

Ozop Energy Solutions Inc (OTCMKTS:OZSC) Remains Volatile: Stock in Focus

Those who are looking to discover stocks that may have made big moves over the course of the past week could consider...

Data Storage Corp (OTCMKTS:DTST) Gets Sudden Attention: What’s The Buzz?

One of the stocks to have made significant gains this week was that of Data Storage Corp (OTCMKTS:DTST). The Data Storage Corporation...

A Closer Looks at American Battery Metals Corp (OTCMKTS:ABML) Developments

American Battery Metals Corp (OTCMKTS:ABML) is one of the stocks to have been in focus among investors over the course of the...

Why is Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) In a Bearish Trend?

The Bitcoin rally over the past weeks has taken the crypto space by storm. However, it should not be forgotten that Ethereum,...