"With over 1.5 billion searches per day and over 2 trillion posts in our index, search is an important, long-term effort at Facebook," VP of Search Tom Stocky stated.
The company said the updated feature will have better search suggestions that show you up-to-date, popular stories.
In addition, users can be a part of a public conversation and see what people are saying about the topics they are searching.
Essentially, Facebook is taking a jab at Alphabet's (GOOGL) core business and Twitter's (TWTR) newly-launched "Moments," which curates news stories for the user, CNBC.com reports.
However, Online Media Analyst Ian Maude at Enders Analysis added, "We have been so used to using Google, the question is to what extent could Facebook add to that or substitute for that, and it is still unclear."
Separately, TheStreet Ratings team rates FACEBOOK INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
We rate FACEBOOK INC (FB) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The revenue growth greatly exceeded the industry average of 6.8%. Since the same quarter one year prior, revenues rose by 38.9%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- FB's debt-to-equity ratio is very low at 0.00 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with this, the company maintains a quick ratio of 8.47, which clearly demonstrates the ability to cover short-term cash needs.
- Net operating cash flow has increased to $1,880.00 million or 40.19% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 19.40%.
- The gross profit margin for FACEBOOK INC is currently very high, coming in at 94.81%. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 17.78% trails the industry average.
- Compared to its closing price of one year ago, FB's share price has jumped by 31.07%, exceeding the performance of the broader market during that same time frame. We feel that the stock's sharp appreciation over the last year has driven it to a price level which is now somewhat expensive compared to the rest of its industry. The other strengths this company shows, however, justify the higher price levels.
- You can view the full analysis from the report here: FB