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Facebook has enormous potential - and here’s why: Garnry
Peter Garnry, Saxo Bank’s head of equity strategy, says the stock of social network Facebook is highly valued, but insists there is still enormous potential for more growth.
Facebook’s Q1 revenue grew 52% y/y to $5.38 billion. Shares in Mark Zuckerberg’s company are at an all-time high at $118 per share. Monthly active users growing by 15% y/y to 1.65 billion.
Garnry says that Facebook has now transformed itself from a desktop company into a mobile-first company - mobile use now consists of 83% of its revenue. This transformation means there is now more potential for monetisation of WhatApp, Instagram and Messenger - all mobile-led formats.
01:12 minutes
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