Mark Zuckerberg is betting the future of Facebook on video, Instagram

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Business Standard: Facebook Inc. Chief Executive Officer Mark Zuckerberg is betting the company’s future on video and disappearing posts called "stories," not the company’s famous news feed. Investors are buying into the vision for now.

The newer products may make less money and steal user attention from the mainstream of photos, comments and lucrative ads on the social network, Zuckerberg warned. Marketers aren’t totally comfortable with the new formats yet, and 2019 will be another year of significant investment, he added on a conference call with analysts Tuesday. Still, the CEO said the opportunity will be bigger than the news feed over time. Chief Financial Officer David Wehner also calmed concern about costs next year and quarterly earnings from the company suggested its business is holding up in the wake of scandals and privacy breaches.

Facebook shares rose 3.9 percent in pre-market trading, after closing at $146.22 in New York. Earlier this year, the company said revenue growth rates would decline in the third and fourth quarters, sending shares plummeting. That set a low bar for Tuesday’s results.

The company’s flagship social network has almost reached saturation point in terms of its growth, especially in the U.S. and Europe. And new Facebook users often live in less-lucrative advertising markets. That’s left company spending heavily on more experimental projects. BS

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