In early November, Facebook (FB) will give its quarterly earnings announcement detailing the status of new services like Facebook Live and the latest food-delivery service that the social media network now offers.
However, Facebook creator Mark Zuckerberg’s new net worth may be the biggest indication of just how well the company is doing financially. The famed computer programmer recently made $1.6 billion in a week, skyrocketing his overall net worth to $56.6 billion, thanks to an increase in Facebook stock, Forbes reported.
Facebook shares rose 1.5 percent Friday and were up 1 percent on Monday morning, which has put Zuckerberg, the biggest beneficiary and largest individual shareholder in the company, to the number five slot on Forbes’ ranking list of The World’s Billionaires. Zuckerberg falls right bellow Berkshire Hathaway magnate Warren Buffett, who comes in on the real-time ranking list at number four with an estimated $65 billion a week.
Analysts are expecting the social media giant to report stellar numbers during the company’s upcoming third-quarter earning’s announcement on Nov. 2. The company is expected to bring in about $7 billion in revenue due to the highly profitable additions of Facebook Live and new services that will allow users to order food through Facebook as well as request appointments, get quotes and purchase tickets for movies and events.
In an effort to beef up Facebook Live usability, the company will roll out a new advertising campaign in the U.S. and the U.K. on Monday. The ad campaign features TV, billboard and bus ads, and is intended to encourage more everyday people to use the Facebook Live video feature and will most likely surge Facebook's revenue as more regular people start to take advantage of the video platform.
Although the San Mateo County-based company has not revealed how many people use the live video feature or how often they are using Facebook Live, Facebook’s chief marketing officer Gary Briggs said in a statement that the number of people using the feature at any given time has increased by a factor of four since May.
Facebook began trading on May 18, 2012, opening at $42.05. On Friday, shares of Facebook closed at $132.07.