Mobile colossus Facebook hits 1.7bn users as revenues surge to $6.4bn

27 Jul 2016

Facebook has become an unstoppable force in mobile

Facebook is an unstoppable force in mobile and has revealed that just under 1.6bn of its monthly 1.7bn active users are through mobile. The social giant reported a 59pc surge in its Q2 figures to revenues of $6.4bn.

This is up from the $4bn Facebook reported in second quarter results last year.

Facebook said it has 1.1bn daily active users, of whom over 1bn access the service via their smartphones.

‘We’re particularly pleased with our progress in video as we move towards a world where video is at the heart of all our services’

Monthly mobile active users of 1.57bn were up 20pc on last year.

Mobile advertising rockets

Mobile advertising revenue represented 84pc of advertising revenue at Facebook in its second quarter results.

The company, founded by Mark Zuckerberg in a Harvard dorm room in 2004, has a war chest of $2.2bn at its disposal.

Capital expenditure for the quarter was $995m.

“Our community and business had another good quarter,” said Mark Zuckerberg, Facebook founder and CEO.

“We’re particularly pleased with our progress in video as we move towards a world where video is at the heart of all our services.”

Facebook’s second quarter results were a far cry ahead of rival Twitter, which reported revenues of $602m for its second quarter, its slowest growth yet.

Updated at 10.45 on 28 July: This article originally stated Facebook’s $6.4bn revenues as $6.2bn.

Facebook image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years