People are seemingly spending less time on Facebook, and the platform is glad for that.
Users spend -0.12% less time on Facebook, according to the official report of the social network for the fourth quarter of 2017. Mark Zuckerberg claims that this is a reflection of the recent content changes brought to Facebook.
Facebook recently published its activity report for Q4 of 2017. Among the report highlights was the 20% rise, which led to a $4.23 billion profit or $1.44 a share.
The social network’s profit might have also reportedly been higher if not for the tax charge. This seemingly led to a 77 cents a share decrease.
Facebook was charged with tax provisions from the 2017 Tax Cuts and Jobs Act, which were due for payment on January 1st, 2018. The tax reduced the corporate income tax rate to 21%, according to the report. Also, the Facebook provision for income taxes increased by $2.27 billion.
The company’s total revenue rose by 47% and reached 12.97 billion. Expectations were around $12.55, based on the people responded to a Yahoo Finance poll.
Around 89% of Facebook’s total ad sales came from mobile ads, which shows that companies and customers are more focused on mobile traffic than on desktop usage.
Less Time on Facebook, the Company’s Target?
Facebook’s CEO recently announced three updates to Facebook’s algorithm and specialists say at least one change is due to come.
“2017 was a strong year for Facebook, but it was also a hard one. Already last quarter, we made changes to show fewer viral videos to make sure people’s time is well spent… In total, we made changes that reduced time spent on Facebook by roughly 50 million hours every day”, said Mark Zuckerberg.
The CEO and founder of Facebook also mentioned that the community would be stronger on the long term, as planned. Reportedly, the average time spent on Facebook declined by 2 minutes per each of its 1.4 billion daily users.
Image source: Pixabay
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