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Facebook's profit raised by at least 33.8%

Sarfraz Ali 04:06 PM | 29 Jan, 2015
Facebook's profit raised by at least 33.8%
SAN FRANCISCO (Web Desk) - Facebook reported that its quarterly profit jumped 33.8 percent from last year to $696 million as ad revenue and membership grew at the leading social network.

The California-based Internet titan said that revenue in the final quarter of last year hit $3.85 billion as the number of active monthly users increased 13 percent to 1.39 billion.

"We got a lot done in 2014," said Facebook co-founder and chief executive Mark Zuckerberg.

"Our community continues to grow and we re making progress towards connecting the world."

A strong showing in ads served up on smartphones or tablet computers helped Facebook earnings beat analyst forecasts.

Shares sank slightly more than a percent to $75.40 in after-market trades that followed release of the figures.

Facebook saw its first quarter of taking in more than $3 billion overall from ads, with about two-thirds of that coming from mobile advertising revenue which soared 69 percent from the same period a year earlier.

An average of 745 million Facebook members daily used mobile devices to visit the social network in December of last year, the company reported.

Facebook said that its properties Instagram, Messenger and WhatsApp recently topped 300 million, 500 million, and 700 million monthly active users respectively.

The net profit including dividends paid to preferred shareholders was $701 million in the fourth quarter.

For the full year, Facebook s profit nearly doubled to $2.9 billion and revenue jumped 58 percent to $12.8 billion.

Investors may be concerned by an 87 percent jump in costs and expenses to $2.72 billion at Facebook that shrank the social networks profit margin to 29 percent from 44 percent in the same period a year earlier.

Facebook s growth has helped it become a major player in online advertising. According to the research firm eMarketer, Facebook accounted for a 7.75 percent share of all global digital ad revenues last year, an increase from 5.75 percent in 2013. That compares with 31 percent for Google.

In mobile, Facebook s share was 18.4 percent in 2014, the research firm said.

Zuckerberg in prior earnings calls has laid out a long-term vision for Facebook that includes pouring resources into technology such as virtual reality and ways for Internet service to reach more people in developing countries.

Facebook said Monday it is testing a lightweight version of its mobile app for mobile phones with poor-quality Internet connections in emerging markets.

A spokesman told that the "Facebook Lite" Android app is designed "for people on 2G (second-generation) connections or in areas of limited Internet accessibility."

Most of Facebook s growth is coming from emerging markets, but many people lack the phones or computers needed for the full-featured app.

Sarfraz Ali
Sarfraz Ali

The author is working as Editor Digital Media for Daily Pakistan and can be reached @ItsSarfrazAli.

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on June 4, 2023

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on June 4, 2023 (Sunday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 298.9 302.15
Euro EUR 321 325
UK Pound Sterling GBP 375.5 380
U.A.E Dirham AED 82 83
Saudi Riyal SAR 80 81.2
Australian Dollar AUD 202 204
Bahrain Dinar BHD 758.24 766.24
Canadian Dollar CAD 228 230
China Yuan CNY 40.18 40.58
Danish Krone DKK 41.16 41.56
Hong Kong Dollar HKD 36.39 36.74
Indian Rupee INR 3.45 3.56
Japanese Yen JPY 2 2.08
Kuwaiti Dinar KWD 927 936
Malaysian Ringgit MYR 61.94 62.54
New Zealand Dollar NZD 173.16 175.16
Norwegians Krone NOK 25.67 25.97
Omani Riyal OMR 740.5 748.5
Qatari Riyal ‎QAR 78.37 79.07
Singapore Dollar SGD 220 222
Swedish Korona SEK 26.36 26.66
Swiss Franc CHF 314.07 316.57
Thai Bhat THB 8.21 8.36

Today's gold rates in Pakistan | gold price in Pakistan – June 4, 2023

Gold Rate In Pakistan Today:

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 230,800 on Sunday. The price of 10 grams of 24k gold was recorded at Rs197,190.   

Likewise, 10 grams of 22k gold were being traded for Rs180,756 while a single tola of 22-karat gold was being sold at Rs 210,832.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

Gold Price in Pakistan: Lahore, Karachi, Islamabad

City Gold Silver
Lahore PKR 230,800 PKR 2125
Karachi PKR 230,800 PKR 2125
Islamabad PKR 230,800 PKR 2125
Peshawar PKR 230,800 PKR 2125
Quetta PKR 230,800 PKR 2125
Sialkot PKR 230,800 PKR 2125
Attock PKR 230,800 PKR 2125
Gujranwala PKR 230,800 PKR 2125
Jehlum PKR 230,800 PKR 2125
Multan PKR 230,800 PKR 2125
Bahawalpur PKR 230,800 PKR 2125
Gujrat PKR 230,800 PKR 2125
Nawabshah PKR 230,800 PKR 2125
Chakwal PKR 230,800 PKR 2125
Hyderabad PKR 230,800 PKR 2125
Nowshehra PKR 230,800 PKR 2125
Sargodha PKR 232,500 PKR 2125
Faisalabad PKR 232,500 PKR 2125
Mirpur PKR 232,500 PKR 2125

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