Instagram Stories and WhatsApp Status both now have 300 million daily active users, up from 250 million in June and July respectively, announced Mark Zuckerberg, CEO Facebook. These stats only go to show that they are nearly 2x as bigger than direct competitor Snapchat, which has 173 million daily active visitors.
Zuckerberg shared the new stats in Facebook’s Q3 earnings today, continuing its streak of beating estimates. Facebook earned $10.3 billion in revenue and $1.59 GAAP actual earnings per share, compared to estimates of $9.84 billion in revenue and $1.28 EPS. Facebook’s EPS is up 76% year-over-year, showing how efficient of a money-maker it’s become. The company earns its record revenue and an all-time high share price despite the controversial shadow of Russian interference in the elections.
Just as Facebook products including Instagram stories, Facebook stories and Messenger Day have their own reality filters; we may see more innovation on similar lines.
Instagram launched its Superzoom feature for Halloween, that lets you add dramatic zoom-ins to your videos.Sources say that Instagram is also testing a Stop Motion feature, which they will add to the platform soon.
Zuckerberg said on the call that he foresees fostering community around video as a big driver for Facebook, as it now shifts focus from “time spent” to “time well spent” on the company’s family of apps. He also stated “research shows that interacting with friends and family on social media tends to be more meaningful and can be good for our well-being, and that’s time well spent. But when we just passively consume content, that may be less true.”