Zuckerberg’s personal wealth barometer rose by an estimated $3 billion on the latest share value increase, taking it to somewhere in the early twenty billion dollar range..
Mark Zuckerberg, co-founder and CEO of social media giant Facebook saw his personal fortune take another jump, thanks to excellent first-quarter results driven by advertising revenue, particularly from mobile devices.
After their leading rival Google’s slightly disappointing first-quarter, Wall Street was not sure what to expect, but when Facebook’s results began to flow in showing an increase in overall revenue up an outstanding 72 percent year-on-year, reaching $2.5 billion, beating even the most conservative analysts forecast by about 6.5%, shares in the company began to react very favorably, jumping by close to 3 percent to creep over the $63 mark in late after-hours trading on Wednesday.
While shares in Facebook have shown a remarkable recovery during the past 12 months, they have been tapering off recently after reaching a zenith of $72.59 in the middle of March.
In a statement issued by Mark Zuckerberg confirmed what everyone knew by stating that Facebook’s business is strong and growing, and this quarter was a great start to 2014.
Facebook, earnings for the quarter were $642 million in net income, equivalent to 25 cents a share, in the first quarter, almost 3 times more than the $219 million, or 9 cents a share which the company returned in the same quarter last year, when they were in the doldrums due to a lack of advertising income, having not yet succeeded in putting the final touches on their mobile advertising campaign.
Across the industry, credit was given to mobile advertising for pushing Facebook’s quarterly returns so high. Revenue from this form of advertising now represents 59 percent of the company’s ad revenue in the first quarter, almost double what it was for the same period last year. The statement went on to add that the total number of monthly active Facebook visitors now surpasses 1.25 billion as of March 31, the equivalent of almost half the world’s internet population. Figure now sure that almost exactly one billion of these web surfers are using Smartphones and tablets to access the social media giant.
Also worthy of note is the revelation that Facebook users are now spending considerably longer periods on the website, as well as more frequently, with an increase of approximately 5% being recorded among its monthly users who log into the site at least once a day, up from 60% in the same period in 2013 to 63% this year.
Particularly successful, according to market analysts is Facebook’s Newsfeed ads, which are prone to inject paid marketing messages straight into a user’s stream of news and content, which have proved to be particularly effective in promoting companies through Smartphones as well as all of the popular mobile devices.
Social media industry onlookers are now predicting that in the likely event that Zuckerberg’s personal fortune continues to grow by $3 billion per quarter, it shouldn’t take too much longer before he’s worth $1 billion for every year of his life.