Facebook hits 1.7 billion monthly active users

Mobile ad revenue soars by more than 80 per cent

Facebook Like sign

Facebook now counts 1.7 billion people who use its platform every month, the company revealed during its second quarter financial results.

The social network reported massive growth across the board, with total revenue spiking by 59 per cent year on year to $6.4 billion (4.85 billion).

Advertising revenue grew even faster, with a 63 per cent uptick pushing it to $6.2 billion (4.7 billion). Within that, mobile ad revenue surged by 81 per cent year on year.

Advertisement - Article continues below

"We have a saying at Facebook that our journey is only 1 per cent done," Zuckerberg told investors. "And while I'm happy with our progress, we have a lot more work to do to grow our community and connect the whole world.

"That means making big investments and taking risks - focusing not just on what Facebook is, but on what it can be."

Now 1.1 billion people use Facebook every day, the company reported, and the average time each person spent using the platform saw double-digit increases across Facebook, Messenger and Instagram.

Zuckerberg also re-emphasised Facebook's commitment to bringing connectivity to the developing world, an initiative that has seen the company launching internet-beaming drones and free web connections.

The company's new livestreaming technology was also touched on, with Zuckerberg saying "Live represents a new way to share what's happening in more immediate and creative ways".

Advertisement
Advertisement - Article continues below

Meanwhile, 360-degree images and VR content are becoming increasingly important to Facebook too. The 360 photos feature, launched earlier this quarter, is seeing 1 million uploads each week, the company said.

But Facebook is not neglecting its core platform either, tweaking background functions like search, and Zuckerberg confirmed that "continuous, steady improvement to services like search are an important part of helping people connect and realizing our mission".

Featured Resources

Navigating the new normal: A fast guide to remote working

A smooth transition will support operations for years to come

Download now

Putting a spotlight on cyber security

An examination of the current cyber security landscape

Download now

The economics of infrastructure scalability

Find the most cost-effective and least risky way to scale

Download now

IT operations overload hinders digital transformation

Clearing the path towards a modernised system of agreement

Download now
Advertisement

Recommended

Visit/marketing-comms/social-media/356307/facebook-bans-violent-boogaloo-network
social media

Facebook bans “violent” boogaloo network

1 Jul 2020
Visit/marketing-comms/social-media/356275/facebook-ad-boycott-is-ready-to-go-global
social media

Facebook ad boycott is ready to go global

29 Jun 2020
Visit/marketing-comms/social-media/356250/verizon-joins-facebook-advertising-boycott
social media

Verizon joins Facebook advertising boycott

26 Jun 2020
Visit/marketing-comms/social-media/356223/predicting-the-future-theres-now-a-facebook-app-for-that
social media

Facebook Forecast app can predict the future

25 Jun 2020

Most Popular

Visit/laptops/29190/how-to-find-ram-speed-size-and-type
Laptops

How to find RAM speed, size and type

24 Jun 2020
Visit/security/vulnerability/356295/microsoft-patches-high-risk-flaws-that-can-be-exploited-with-a
vulnerability

Microsoft releases urgent patch for high-risk Windows 10 flaws

1 Jul 2020
Visit/business/policy-legislation/356256/uk-invested-about-ps500m-in-wrong-gps-satellites
Policy & legislation

UK gov buys "wrong" satellites in £500m blunder

29 Jun 2020