Facebook Q4 conference call notes
- News/video will always be important part of Facebook, but feels helping people connect is more important than people spending more time on Facebook
- Reiterates time spent on platform may decline, but interaction will increase
- Company's changes have resulted in about a 5% decline to average user time spent on Facebook
- States that when you care about something, you're more likely to watch an ad in order to view it
- Update meant to prioritize news trusted my more sources...Wall Street Journal and others
- Stories has taken over Posts and Feed as popular way to share content by individuals
- Oculus Go to get into customers' hands this year
- Rolled out Ad Transparency in Canada, to roll out in US as well
- Total expenses were $5.6 bln in Q4
- 43% effective tax rate; $2.3 bln in charges in Q4 related to Tax Reform
- $6.7 bln in CapEx in FY17 (guidance was for $7 bln)
- Ad impression growth at modest pace, expect ad growth to decelerate at modest pace
- Reaffirmed total expense growth in FY18 of ~45 to 60% compared to FY17
- Sees $14-15 bln in FY18 CapEx; tax rate in mid teens