Facebook has reported a boom in its revenue by 47 percent due to hike in its mobile ads sales in 2017 in spite of falling numbers of daily users in US and Canada.
The revenue has increased by $12.97 billion for the fourth quarter that ended on December 31.
The previous year's revenue during the same period was around $8.81 billion. Mobile advertising revenue accounts for around 89 percent of total revenue for the fourth quarter of the year. Advertisement revenue during the fourth quarter of 2016 was around 84 percent.
The social media giant generally experiences 14 percent increase in its daily users for each year. Daily active users (DAUs) were nearly 1.40 billion on an average for December 2017, whereas monthly active users (MAUs) were found to be around 2.13 billion by month's end.
Mark Zuckerberg, Facebook founder, and CEO said, "Last quarter, we made changes to show fewer viral videos to make sure people's time is well spent. In total, we made changes that reduced time spent on Facebook by roughly 50 million hours every day. By focusing on meaningful connections, our community and business will be stronger over the long term."
However, Facebook stated that the decline in the user count in the US and Canada region has occurred for the first time. It has faced a decline in daily active users from 185 million to 184 million.
The social media company claims that it increases its employee numbers by 47 percent each year. The current employee strength of the company is 25,105 people.
Facebook CEO said that 2017 was a strong year for the company but it was also a hard one. He said that Facebook will aim to encourage making meaningful connections between people rather than keeping it merely as passive consumer content.
The online social media giant says that it will focus on "making sure that Facebook isn't just for fun to use, but also good for people's well-being and for society."