Facebook now has 2.7 billion monthly active users

With hundreds of millions of people across the world stuck inside thanks to the on-going COVID-19 pandemic, social networking giant Facebook couldn't be happier.

Facebook reported their Q2 2020 earnings, smashing analyst expectations and seeing FB shares spiking 7% in extended trading. We now know that Facebook revenue for Q2 2020 was a bold $18.69 billion for the three-month period, up 98% year-on-year.

As for the amount of people using Facebook, that has also been boosted in a big way -- with 1.79 billion daily active users (DAUs) while the monthly active users has reached a gigantic 2.7 billion monthly active users MAUs.

Facebook founder and CEO Mark Zuckerberg said: "We're glad to be able to provide small businesses the tools they need to grow and be successful online during these challenging times. And we're proud that people can rely on our services to stay connected when they can't always be together in person".

Facebook said in a statement: "More recently, we are seeing signs of normalization in user growth and engagement as shelter in-place measures have eased around the world, particularly in developed markets where Facebook's penetration is higher".