Displaying items by tag: revenues
US telecommunications operator Sprint has posted a disappointing performance in its financial returns for Q4 in 2018.
Social media giant Facebook reported its financial earnings on February 1, which showed that its profit more than doubled in the final three months of 2016 as revenues continued to rise and its user base grew.
The company said it made a net profit of $3.7 billion on revenue of $8.6 billion in the fourth quarter, compared to profit of $1.6 billion on $5.6 billion in revenue in the same period the previous year. Facebook’s earnings pushed past many analyst forecasts.
Facebook reported that the number of people using its network increased 17 percent to 1.86 billion. The company saw an increase in the amount of people accessing Facebook from mobile devices each month, which grew to 1.74 billion, an increase of 21 percent from the same period the year before. Revenue from mobile ads on mobile devices accounted for 84 percent of Facebook’s overall advertising revenue in Q4 2016.
“Our community now has almost 1.9 billion people, including 1.2 billion people active every day. More than 65 million small businesses use Facebook to connect with their customers,” said Facebook CEO Mark Zuckerberg in a Facebook post. “Our biggest focus continues to be putting video first across our family of apps. More than 150 million people now use Instagram Stories every day. We've launched our new camera in Messenger and have started rolling it out in Facebook as well.”
Zuckerberg continued, “We have a lot more work ahead as we continue building the community we all want -- one that is informed, supportive, safe, and a force for good in the world. Thank you for being a part of this journey to connect the world.”
Analyst Colin Sebastian from Baird research said in a note to investors that they believe concerns over user engagement and other social competitors are “likely overblown, as few companies share Facebook’s combination of scale, strong technology orientation, and platform breath/diversity.”
Facebook shares were up more than two percent to 136.31 in after-market trades that followed release of the quarterly earnings figures, according to AFP, which topped market expectations.
In a statement released with the earnings figures, Zuckerberg said “Our business did well in 2016, but we have a lot of work ahead to help bring people together. Our mission to connect the world is more important now than ever.”
Canadian telecommunications and cloud computing host Mitel is buying US videoconferencing giant Polycom for nearly US$2 billion in cash and stock, the companies announced Friday.
Polycom stockholders will receive US$3.12 in cash and 1.31 Mitel shares for each Polycom share, according to a statement.
The merged company will operate under the Mitel name and be headquartered in Ottawa, but will also maintain the well-established Polycom brand.
The deal, which still requires regulatory approval, is expected to close in the fall.
The combined company will boast 7,700 employees worldwide and revenues of about $2.5 billion.