Company still struggling with stock despite milestone
Facebook said Thursday it’s hit a milestone of one billion monthly users in October, with over 80% outside the U.S. and Canada.“This morning, there are more than one billion people using Facebook actively each month,” said founder and CEO Mark Zuckerberg, on the company’s website. “If you’re reading this: thank you for giving me and my little team the honor of serving you. Helping a billion people connect is amazing, humbling and by far the thing I am most proud of in my life.” Despite the staggering number, the eight-year-old company has been struggling with slowing revenue and the stock is down sharply since its initial public offering in May. In an interview with Matt Lauer on NBC’s “Today” show Zuckerberg acknowledged a rough patch. “Things go in cycles. We’re obviously in a tough cycle now and that doesn’t help morale,” he said. But “people here are focused on the things they’re building,” which include new features to help the social network turn its massive user base into cash. But its reach can’t be overstated. It added 200 million users over the past year. Some 600 million of them use Facebook on their mobile phones. The company also unveiled a new promotional video, its first ever, on its site “to honor the everyday things people have always made to bring us together. “Chairs, doorbells, airplanes, bridges, games. These are all things that connect us,” Zuckerberg said. “And now Facebook is a part of this tradition of things that connect us too.”
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