Facebook Shares Decline More Than 6% Despite Good Earnings In Q4 2019

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Despite the fact that Facebook posted good results in the quarter that ended on December 31, the shares of social media platform slip 6 percent in trading. The company has announced that it has added 2.5 billion monthly users during the same period as compared to 2.45 billion in Q3.

Facebook Shares Decline More Than 6% Despite Good Earnings In Q4 2019

 

The company has now 1.66 billion daily active users on its platform which is 2.4 percent higher than the last quarter. The company has posted $21.08 billion in revenue, which is also 25 percent up from Q3 2019. In addition, Facebook has achieved $7.3 billion net income in Q4 2019.

"We had a good quarter and a strong end to the year as our community and business continue to grow," said Mark Zuckerberg, Facebook Founder, and CEO. Adding to that, "There are now around 2.9 billion people using Facebook, Instagram, WhatsApp or Messenger each month, and around 2.3 billion people using at least one of our services daily. There are now more than 140 million small businesses that use our services to grow -- the vast majority of which use our services for free."

Meanwhile, Facebook said that on an average there are 2.26 billion family daily active people, which is again an 11 percent increase. The company said that it employs 44, 942 people during the quarter. Furthermore, the company has also shared about the launching of WhatsApp Pay.

"I'm really excited about this, and I expect this to start rolling out in a number of countries and for us to make a lot of progress here in the next six months," Zuckerberg added.

Apart from this, the company has introduced a new "Off Facebook Activity" tool. The company has joined hands with many companies so that it can receive information about the customers. Under this partnership, the company will provide personalized experience of those services, to its customers.

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