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Facebook Inc offered reassurances to investors on Wednesday that its digital ad business would remain highly profitable Adidas Cam Fowler Jersey , despite a dip in usage on the social media network and an overhaul of its flagship News Feed.

 

The company said in an earnings report that quarterly revenue jumped 47 percent from a year earlier, and executives said on a conference call that they saw more chances to make money even if people spend less time on Facebook.

 

Analysts had wondered about the resilience of the world’s largest social media network, which is making changes to its products to deter foreign influence campaigns like ones that it says Russia has carried out and to stem the spread of sensationalism.

 

Facebook added to jitters after the bell on Wednesday when, in its earnings report, it said that at the end of last year time spent by users had fallen by about 50 million hours a day.

 

Shortly afterward, though Adidas Corey Perry Jersey , Facebook executives expressed optimism on the call with analysts, saying the changes they were making in response to criticism would be healthy for the business in the long term and might not even hurt much in the short term.

 

“I want to be clear: The most important driver of our business has never been time spent by itself. It’s the quality of the conversations and connections,” Chief Executive Mark Zuckerberg said on the call.

 

Facebook management “acknowledged things that maybe most investors weren’t thinking about before — the reduction of users and usage — but at the same time they pointed to a lot of positive trends on their other platforms,” Pivotal Research Group analyst Brian Wieser said.

 

Although Facebook usage is down, he said, “One shouldn’t be reflectively negative on this.”

 

Chief Operating Officer Sheryl Sandberg told analysts that recent changes to reduce disinformation on Facebook could create “more monetization opportunities.”

 

Sandberg said she was optimistic about potential revenue from ads on “stories” on Facebook and Instagram Authentic Ryan Kesler Jersey , while Chief Financial Officer David Wehner said the average price per ad increased 43 percent in quarter.

 

“They said average revenue per ad was up a lot, that quality of ads has improved, and that the engagement declines were not meaningful,” Wedbush analyst Michael Pachter said.

 

“In other words, better quality engagement and better ability to target ads. The street probably likes that,” he said.

 

Facebook said that time spent was falling at the end of last year by about 50 million hours a day due to changes that it said reduced viral videos Authentic Ryan Getzlaf Jersey , even before the company announced a series of changes to the News Feed that may further reduce user engagement.

 

Facebook’s 1.4 billion daily active users was up 14 percent from a year earlier, but below analysts’ estimate of 1.41 billion for the fourth quarter, according to financial data and analytics firm FactSet.

 

The number of daily users in the US and Canada fell for the first time in Facebook’s history.

 

China’s manufacturing activity expanded in January at the slowest pace since last May while services activity grew at the fastest in four months to reflect stable development in overall economic activity, the National Bureau of Statistics said yesterday.

 

The manufacturing Purchasing Managers’ Index, which measures vitality in the manufacturing sector, dipped last month to 51.3 from December’s 51.6.

 

The reading was below market expectations for 51.6 but remained above the 51 mark for the 16th consecutive month.

 

A reading above 50 indicates expansion Authentic Andrew Cogliano Jersey , and below 50 contraction. The manufacturing PMI has been in positive territory for 18 straight months in a row.

 

The non-manufacturing PMI rose for the third consecutive month to reach 55.3 in January, up from December’s 55.

 

A general PMI, published for the first time to cover both manufacturing and services industries, was flat at 54.6, as data showed the December reading would have read the same.

 

The new index was introduced to better track the economy as the border between the manufacturing and services sectors has become more ambiguous.

 

While old indexes will remain, the new gauge will “provide a new perspective to monitor the macro-economy Authentic Cam Fowler Jersey , and enrich and improve the current PMI system,” the bureau said, adding that it has undertaken more than two years of research and testing.

 

The mechanism in compiling the index is in line with global practices, it said. Its use will make economic activity in China more comparable on a global level.

 

“As of December, countries and regions including the eurozone, the United States Authentic Corey Perry Jersey , Britain, Germany and Japan have compiled and published such an index,” the bureau said.

 

Zhao Qinghe, a senior statistician of the bureau, said business activity of companies in China continues to maintain stable growth at a relatively fast rate, with the services sector outpacing manufacturing.

 

Growth in demand moderated as some industries approach the low season Cheap Ryan Kesler Jersey , but the consumer goods sector accelerated ahead of the Spring Festival, Zhao said.

 

January’s sub-index for production fell to 53.5 from December’s 54, and new orders fell to 52.6 from 53.4. Sub-indexes for raw material inventory, employment and suppliers’ delivery time were still lower than 50.

 

Businesses saw easing pressure from rising operating costs in January, and export growth softened as overseas demand fell after the Christmas and New Year holidays, Zhao added.

 

PMI for the consumer goods sector was 52.7 Cheap Ryan Getzlaf Jersey , 0.3 points higher than December and 1.8 points higher than January 2017.

 

China’s economy is shifting to a consumption-led growth model to wean itself off reliance on exports and investment. Consumption contributed to 58.8 percent of economic growth last year.

 

Meanwhile, expansion in services industries was led by retail, air transport, broadcasting, Inter

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