Less is more. The social network’s quarterly earnings report revealed that users spent 50 million fewer hours per day on the site in the last quarter of 2017 — its first ever drop. But the company’s profits still rose 47 percent compared to the same period in 2016, and founder Mark Zuckerberg said the slipping usage ultimately won’t matter after the company revamps its news feed to focus on “meaningful connections.” The mixed news sent Facebook’s stock on a roller coaster ride, tumbling 5 percent before recovering for a 1.4 percent gain.
Source: Facebook Usage Declines While Profits Soar – February 01, 2018 | OZY