Facebook has close to 2 billion users, massive profits

Facebook has plenty to smile about for the first 3 months of 2017, with the company releasing their first quarterly earnings for the year.

The social networking giant now has 1.94 billion monthly active users, which is around 300 million more people on Facebook since this time last year. There are now an average of 1.28 billion people who use Facebook each and every day.

On the money side of things, Facebook raked in a sizeable $8 billion in revenue, a 49% increase from the same period of 2016. Facebook made just over $3 billion in net profit, representing a massive 76% increase in profits. Most of this comes from mobile advertising, which represents close to 85% of Facebook's advertising revenue.

Facebook is also continuously investing into video, with the company revealing its impressive next-gen 360-degree camera, and continuing to push for more 360-degree content on our News Feeds.