It seems like its 10th birthday isn’t the only thing Facebook has going for it. As it blazes through the start of its second decade, Facebook reports astounding figures from an economic viewpoint. As is always the case for Facebook, it shows no signs of stopping.
Facebook announced its Q4 earnings for 2013 and the results were staggering for investors and economists everywhere. It reported a net income of $780 million on $2.6 billion in revenue for its fourth quarter. This, in turn, attracted even more investors to buy company stocks, making the stock price skyrocket to $62 a share, giving it a market value of $154.7 billion.
This happy news certainly turned the opinions of investors. Over the years, Facebook drew flak from them and was repeatedly dismissed as just a passing fad. However, the clear growth and success that Facebook is displaying is surely a sign that Facebook is headed in the right direction. In fact, advertising revenue for Facebook’s Q4 nearly doubled to $2.34 billion as compared to the same quarter a year ago. More than half of that is from mobile which is often touted as the new frontier for social networking.
In light of this news, Facebook’s COO Sheryl Sandberg was interviewed by USA Today where she said that Africa and Asia are fertile territory for the next wave of Facebook’s growth. When asked what’s in store for Facebook, she said that they are looking forward to adding the next billion users. Something that Facebook has already done as it boasts its 1.23 billion user base.
As we gaze upon the many accomplishments of Facebook, we surely can’t help but speculate what is its secret to success. Is it the ever-changing look of Facebook that keeps users on their toes? Is it the ubiquitous “Like” sign that keeps users connected and engaged wherever they are on the internet? Is it perhaps that Facebook has just so seamlessly integrated itself on our daily habits that we find it hard to not check in anymore? Whatever it is, it looks like Facebook has effectively found the key to its users’ hearts.