Facebook shared its achievements for the second quarter of 2017. The bottom line: more than two billion people use Facebook monthly, with 1.3 billion using the social network on the daily basis. The company managed to convert an extensive user base in $9.3 billion in revenue and earn $3.89 billion of net profit, a 71% increase over the same period in 2016.
At the same time, the report showed the slowdown in the company’s growth. However, it’s not something alarming anyway. Facebook has repeatedly warned analysts: social network has reached the point where no more advertising is possible without an increased user discontent.
Here are the key second-quarter metrics:
- EPS: $1.32 vs. $1.13 expected, according to Thomson Reuters
- Revenue: $9.32 billion vs. $9.2 billion expected, according to Thomson Reuters
- Mobile ad revenue: $8 billion vs. $7.68 billion expected, according to StreetAccount
- Monthly users (MAUs): 2.01 billion vs. 1.98 billion expected, according to StreetAccount
- Capital expenditures: $1.44 billion vs. $1.73 billion expected, according to StreetAccount
CEO and founder of Facebook Mark Zuckerberg said that he hopes to find more intensive ways to monetize instant messengers – Messenger and WhatsApp. In addition, Facebook has high hopes for an increase in the number of videos on the social network. With this purpose in mind, a set of tools for managing video content is planned to be released in August.
The growth of the company’s revenues is not even stopped by an aggressive hiring policy. As of June 30, 2017, the company employed 20,658 people, a 43% increase compared to 2016. And the Facebook budget for research grew by a quarter for the same period.
As we covered in this article, the role of social networks is growing in various sectors of life. “We had a good second quarter and the first half of the year,” adds Mark Zuckerberg, Facebook founder, and CEO. “Our community is now two billion people and we’re focusing on bringing the world closer together.”