Facebook just posted its second quarter earnings for investors & reported $6.44 billion in revenue & $2.05 billion in profit. That’s a 59% increase over the $4.04 billion in revenue during the same period last year. Facebook has now reached 1.71 billion monthly active users – a 15% increase from last year. It also has more than 1 billion daily active users on mobile which generates 84% of its revenue. At this rate, Facebook will have 2 billion monthly active users by the end of 2017.
Since 4 years ago, Facebook’s stock price has more than tripled. With Facebook, Messenger, and WhatsApp each being used by over 1 billion people, the company has proven that it can continue to grow. Facebook also appears to have figured out how to effectively monetize its apps, generating over 84 percent of its revenue from mobile users. And so far the vast majority of that revenue comes from Facebook and Instagram, with Messenger and WhatsApp still largely untapped.
Facebook’s Founder, Mark Zuckerberg is looking well beyond social networking for Facebook’s next act. The company is spending billions on research and development.[tg_divider style=”normal”]
Source: Facebook InvestorWhat do you think about this, tell us in the comment section below? Also, check out our Instagram page for awesome tech stuff.