I have a full position in Facebook and it has preformed quite well. I know that Fb has been warning of an expected ad revenue slow down that has yet to materialize. I read the conference call last night and there is one sentence that I am trying to figure out if I am misunderstanding or maybe David Wehner mispoke? The sentence is pasted below in bold.
Turning now to the outlook, growth engagement and advertising demand remain healthy, but there are certain factors that will impact revenue growth that are worth mentioning. As we have discussed before, we continue to expect that Facebook ad load will play a less significant factor driving advertising revenue growth going forward, and that desktop ad revenue growth rates will slow in the second half of 2017 when we begin to lap efforts to limit the impact of ad blockers.
In addition, we expect that our strategic focus on driving engagement with mobile video may slow advertising impression growth, given the relatively fewer ad impressions in video relative to News Feed. I would also note that we do not see our early efforts in Messenger monetization offsetting the factors that I just mentioned.
For these reasons, we continue to expect that our ad revenue growth rates will come down as the year progresses. We continue to expect full-year 2017 payments and other fees revenue to decline compared to full-year 2016.
Hers Matt’s FB numbers
Q1 Q2 Q3 Q4 2013 1.458 1.813 2.016 2.585 2014 2.502 2.910 3.203 3.851 2015 3.543 4.042 4.501 5.841 2016 5.382 6.436 7.011 8.809 2017 8.032 9.321
Surely 2017 revenue won’t be less that 2016 revenue? Do you think when David Wehner said payments and other fees was he talking about total revenue of something else? Any clarification will be appreciated.