Facebook’s earnings were down $2.7 billion last year, but its profit margin is expected to be about 4.7%, according to a new report from the research firm Morningstar.
The report also found that Facebook has surpassed its full year of revenue expectations, with a $3 billion profit.
The company’s total revenue was $17.5 billion, up $5.6 billion from 2016, but the company had revenue of $18.5 trillion, up only $1.5 Billion from the year before.
“In 2017, we made the right investments to drive the business forward, including a major acquisition that opened up a new platform and enhanced the platform experience, which delivered value to our users and partners,” Facebook CEO Mark Zuckerberg said in a statement to The Associated Press.
“We continue to invest aggressively in our core businesses, including expanding the reach of Facebook News, increasing our advertising inventory, and investing more in products that connect users to each other.”
Mark Zuckerberg, left, CEO of Facebook, talks with Mark Zuckerberg during a keynote address at the Mobile World Congress 2017 in Barcelona, Spain, March 29, 2021.AP Facebook CEO announced in February 2017 that he planned to sell the company to Microsoft, the world’s largest tech company.
Zuckerberg is also set to take a leave of absence from Facebook.
He is the third-richest person in the world.
Facebook is expected make more than $5 billion in profit this year, with revenue of about $18 billion.
The number of Facebook users will rise to about 1 billion by 2020, from about 1.2 billion in 2020.