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Facebook all set to alter its News Feed

Facebook all set to alter its News Feed

Facebook all set to alter its News Feed

Mr Zuckerberg said the company was making changes that reduce how much time people spend on the social media site, but ensure it is "more meaningful". Shares fell about 4% after the market closed Wednesday.

Daily and monthly active users were both up 14% year over year, hitting the 1.4 billion and 2.13 billion marks, respectively, in December. If we were to revisit that 50 million hours number on a per-user basis, it would be a drop of 0.035 hours aka 2.1 minutes per user per day.

Facebook CEO Mark Zuckerberg said in a statement that it was a strong year for the company but also a "hard one".

The 50 million fewer hours per day was compared with the prior quarter and excludes engagement on Facebook's Instagram, Messenger and WhatsApp products, the company said. However, its US daily active users declined from 185 million to 184 million on a quarter-to-quarter basis - the first time the company has seen such a decline.

The Menlo Park, California, company said in a news release that it identifies local publishers as those clicked on by readers in tight geographic areas.

Facebook's stock was down almost 5 percent in after-hours trading. The S&P 500 Index .SPX rose 24 percent during the same period. Facebook is altering the formula that determines what shows up in people's news feeds to favor status updates from friends and family that spark more meaningful social interactions. Facebook said 126 million Americans may have seen Russian-backed political ads and posts.

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To make sure you're getting the best local news, prioritize the pages or people you follow to ensure their posts appear at the top of your newsfeed.

Mr. Zuckerberg notes in his announcement that changes come about due to the concentration of many comments by users that commercial publications absorb their personal moments and prevent them from connecting with other users.

Facebook's average revenue per daily user is $9.27, up 23 percent from last quarter. He cited the need to "protect our community from abuse and hate, defending against interference by nation states" and "making sure that time spent on Facebook is time well spent". The spending spree includes new warehouses full of servers and thousands of new workers to review content posted by users.

The cash haul represented a 47 percent jump in revenue year-over-year - giving the Menlo Park, Calif. -based company its 11th straight quarterly revenue beat.

Total advertising revenue was $12.78 billion, compared with analysts' estimate of $12.30 billion, according to Thomson Reuters I/B/E/S.

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