San Francisco: Despite facing intense scrutiny over data privacy, Facebook stock rose 12 per cent after it logged a record revenue of $16.91 billion – up from $12.97 billion in the year-ago period – in the fourth quarter that ended December 31.
The social media giant now has 2.32 billion monthly active users (MAUs) globally -- an increase of 9 per cent (year-over-year) -- and 1.52 billion daily active users (DAUs), thanks to the growth in emerging markets like India, the company said late Wednesday.
“Full year 2018 revenue grew 37 per cent to $56 billion and we generated over $15 billion of free cash flow. Daily active users on Facebook reached 1.52 billion, up 9 per cent compared to 2017, led by growth in India, Indonesia and the Philippines,” said Dave Wehner, Facebook's chief financial officer. (IANS)
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