Facebook posted strong third-quarter earnings on Tuesday evening.
The theme of the earnings call was Facebook’s future and how the company can use its success to invest in long-term goals that will make it an even stronger company over the next decade.
Facebook’s CFO, Dave Wehner, and CEO Mark Zuckerberg both said that next year Facebook would be making a series of aggressive talent and ad-tech investments that would set it up for a successful future.
But that could mean Facebook’s expenses increase up to 70%.
Zuckerberg also outlined his three-, five-, and 10-year plan for the company.
In summary, he wants to have multiple Facebook products — WhatsApp, Messenger, Search, Video, NewsFeed, Oculus, and Instagram — each connect 1 billion users. Once those have reached mass scale, then he’ll start to aggressively monetize them.
He also wants to improve the advertising experience for brands, particularly on mobile. Facebook will be investing in ways to better target and measure campaigns through data. It wants to help brands measure online to offline sales conversions. Currently, advertisers spend only about 11% of their budgets on mobile, according to Facebook COO Sheryl Sandberg, because the right tools aren’t in place.
Finally, Facebook wants to build the next major computing platform, which Zuckerberg believes could be augmented reality and Oculus. He also wants to bring the internet to more people through.
Transcript of Zuckerberg’s plan here.
Source: Business Insider