Facebook record profits despite scandals
January 1, 1970 -- Facebook reported $6.88 billion in net profits in the final three months of 2018 -- a jump of 61% from the same period a year earlier -- while revenue for the quarter rose 30% to $16.91 billion.
Despite ongoing controversies, the Menlo Park, California-based company reported $55.83 billion in 2018, up from $40.65 billion in the previous year, and net profits of $22.11 billion.
Monthly active users in the U.S. and Canada remained flat at 242 million compared with the third quarter while its European monthly users grew to 381 million from 370 million in fourth quarter 2017.
Users in the U.S. and Canada are Facebook’s most lucrative, worth an average of $34.86 each. Users in Europe generated an average of $10.98 each while global average revenue per user grew to $7.37.