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Tuesday , 16 July 2019
Breaking News

Facebook users touch 2 billion – posts record Q2 Profits

Social Media giant Facebook has announced that it had reached 2 billion active users. The company which was founded in 2007 inside n University Campus has grown to be a behemoth mopping up WhatsApp, Instagram and few other brands to become the leading site in the social media segment.

There were also talks of Twitter being taken over by FB but that happened to be a rumour. Facebook has posted a net income of $3.89 billion in second quarter of 2017 which was 71% increase when compared to the same quarter last year.

The revenues were mainly generated from the increased mobile video ad sales, Facebook stocks hit record high as total revenue was up 44.8% to $9.32 billion, the company said in a statement. This had led to the company touching the total market capitalisation of $480 Billion.

“We had a good second quarter and first half of the year. Our community is now two billion people and we’re focusing on bringing the world closer together,” said Facebook CEO Mark Zuckerberg.

“Clearly, the biggest driver of growth is, overall, Facebook News Feed. Instagram is making a contribution, and an increasing contribution,” Chief Financial Officer David Wehner said.

The company had witnessed an increase of 17 percent year-on-year when the daily active users(DAU) are taken into consideration. Movile ad revenues stood at 87% which was 84% during the second quarter in the last year and expected to grow up further due to the upcoming festive season especially Christmas and New Year. The company employs close to 21,000 employes world wide which is also an year over year increase of 43%.


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