Facebook is closing in on 2 billion users

Facebook logoFacebook has had quite a rollercoaster ride so far in 2017. Sure, it managed to go head-to-head with Snapchat and rolled out lots of new features, but it's also faced plenty of scrutiny over fake news and the rise of graphic violence on its live video platform. Still, Facebook continues to be the social network of choice for millions of people around the world. Indeed, in its first quarterly earnings report for 2017, the company reported that it has 1.94 billion monthly active users as of March 31st, which is a nearly 300 million increase from this time last year. What's more, an average of 1.28 billion people use Facebook products every single day.

As you might expect, this means that Facebook made a lot of money last year. Specifically, in just the first three months of 2017, the company made $8 billion in revenue, which is a rise of 49 percent from just a year ago. If you look at net profits specifically, the jump is a little over $3 billion, which translates to a hugely impressive 76 percent growth. A big chunk of that cash comes from mobile advertising, which is now the source of around 85 percent of Facebook's advertising revenue. This could explain why Facebook has stopped providing numbers for its mobile users -- pretty much everyone on Facebook is a mobile user.

What's more, Facebook's brazen copying of Snapchat's Stories across its product line is paying off. Just a few weeks ago, Instagram announced that close to 200 million people are using its Stories feature. Today, on the earnings call, CEO Mark Zuckerberg said that WhatsApp Status (basically WhatsApp's version of Stories) now has 175 million users. Snapchat itself has around 161 million daily users as of February. Of course, there's no indication that Snapchat is slowing down either, but it does show that Facebook's Snapchat-dampening strategy is working.

Another way Facebook plans on going after Snapchat is with its camera-based augmented reality efforts, and the fact that the company is opening it up to third-party devs. "I think at this point we're pretty much ahead in terms of the technology that we're building," said Zuckerberg, in what seemed like a sly comparison to its LA-based rival. "A lot of people are using these products across our family of apps, and I would expect us to continue leading the way forward."

Facebook continues to invest quite a bit in video, with more people watching clips on the platform more than ever before. CEO Mark Zuckerberg called out the rise of 360-degree video on News Feed, as well as its investment in live streaming. What's particularly interesting is Facebook's current endeavor into licensing existing video content, with CFO David Wehner saying that the company is "looking at kickstarting an ecosystem of longer-form content." Zuckerberg similarly said that he hopes for "some anchor content" and may even pursue sports deals similar to what Twitter is doing with the NFL.

Source: Engadget

Tags: Facebook, social networks

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
For now would-be Apple Watch owners have to choose between either the original Apple Watch or the Series 3
 
Samsung has recently developed a Z-NAND chip and a controller optimized for this chip
 
Apple was the first to announce that its new iPhones would be able to record 4K UHD video
 
Build 15250 finally brings new features to Windows 10 Mobile
 
The new Face ID on the Apple iPhone X only supports one face
 
Microsoft is giving users direct access to the Privacy Statement within the setup process
 
Samsung is also working on researching voice recognition data technology based on cloud service
 
The Apple Watch Series 3 adds LTE but at a cost to older iPhone owners
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
     12
3456789
10111213141516
17181920212223
24252627282930




Poll

Do you use microSD card with your phone?
or leave your own version in comments (4)