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Facebook has close to 2 billion users, massive profits

Facebook: $8 billion revenue in Q1, nearly 2 billion users.

Published May 4, 2017 8:26 PM CDT   |   Updated Wed, Jul 27 2022 3:46 AM CDT
0 minutes & 41 seconds read time

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

Facebook has close to 2 billion users, massive profits 07

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 has close to 2 billion users, massive profits 08

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.

NEWS SOURCE:engadget.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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