Facebook News Feed update focuses on local news

Lena Tucker
February 1, 2018

CEO Mark Zuckerberg said in a post that they're going to be putting more local news on Facebook to highlight more stories from your town or city.

Facebook's revenue growth was also strong - up 47 percent over a year ago.

Zuckerberg said that people spent "roughly 50 million hours" per day less on Facebook last quarter. Worth noting, though, is that the company added 32 million daily users over the quarter, its lowest quarter-over-quarter jump in two years.

Facebook's stock was down almost 5 percent in after-hours trading.

The company on Wednesday reported that it grew its revenue by 47 percent to almost $13 billion during the fourth quarter. Though Facebook saw a 14 percent year-over-year increase in daily and monthly active users, it actually dropped from 185 million to 184 million daily users in the USA and Canada and stayed at a flat 239 million for monthly users.

Facebook reported slightly slower-than-expected growth in daily active users in the latest quarter and said changes made to the News Feed reduced the time spent by users by about 50 million hours every day. Mobile advertising revenue now makes up 89 percent of overall ad revenue, up from 84 percent a year prior.

"None of that will hurt Facebook's revenues", said Frier.

It was another busy three months for the social network.

For now, Facebook continues to be an ad sales juggernaut. In November, Zuckerberg said he's "dead serious" about fixing the problem.

Looking to pacify its massive audience - and keep its ad revenue rolling in - Facebook launched a tool allowing users to check if they followed Kremlin-funded pages. "I talk about Facebook more than my friends do". This is an attempt to make the information on the News Feeds more relevant to the users as well as to help spread "news that is trustworthy, informative, and local".

Facebook identifies local publishers "as those that are clicked on by readers in a tight geographic area". Nevertheless, it's been surprisingly popular with a younger demo, according to Morgan Stanley, with 40 percent of users between 16-34 checking out Watch content on a daily basis.

Facebook has been revamping its News Feed to show more posts from family and friends and fewer posts from businesses, brands and media. Shares traded near its all-time high of $190 heading into Wednesday, closing the day at about $186.50 a share.

Other reports by AllAboutTopnews

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