Facebook's combined messaging system won't arrive this year

Facebook's combined messaging system won't arrive this year

Instagram Stories, the Snapchat clone that is created to let Instagram users share what they're doing with their followers, now has 500 million daily active users, Facebook announced during its latest earnings call on Wednesday. The social networking company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.20.

Revenues topped analysts' forecasts at $16.9 billion and earnings per share came in at $2.38, well above Wall Street's expectations of $2.19.

The social media giant now has 2.32 billion monthly active users (MAUs) globally - an increase of 9% (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. The company's quarterly revenue was up 30.4% on a year-over-year basis. Finally, Morningstar set a $186.00 target price on Facebook and gave the company a "buy" rating in a report on Thursday, October 11th.

San Francisco: Fifteen years after its founding, Facebook has made strides toward Mark Zuckerberg's goal of connecting the world. Shares of Google parent Alphabet Inc rose 1.4 percent in extended trading on Wednesday. The company also revealed a major privacy breach, after a bug allowed outsiders to access search histories and location check-ins of 14 million people.

But analysts say the trust issue is crucial for Facebook if it wants to move forward on its mission to connect the world. "Advertisers don't listen to either of those groups - they listen to consumers". Facebook had a net margin of 39.60% and a return on equity of 27.95%.

Facebook, though, may be bracing for further declines in growth of its main app. Contravisory Investment Management Inc. now owns 200 shares of the social networking company's stock valued at $26,000 after purchasing an additional 121 shares during the period.

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Facebook appears to be using Instagram to connect more with younger users and has also been ramping up its services on WhatsApp and Messenger.

The way people experience groups and communities will deepen this year.

The company also warned that revenue growth will slow because of shifts in its advertising business.

The Stories format is used by about 2 million advertisers out of Facebook's total 7 million active advertisers, and the company said it would add more features to make it easier for advertisers to adapt their campaigns. Those newer ads are less lucrative at the moment.

In a conference call with investors after the fourth quarter results, Facebook founder Mark Zuckerberg said he had "fundamentally changed how we run this company" and suggested the firm would be able to refocus on product development in 2019 with new innovations in messaging, payments, groups, video and hardware.

"The first reason that I'm excited about this is moving more to end-to-end encryption by default in more of our products".

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