Facebook hurtles toward 2bn users as mobile ad revenues surge to 85pc

4 May 2017222 Views

Mark Zuckerberg profile on Facebook mobile app. Image: dolphfyn/Shutterstock

Facebook has kicked 2017 off to a good start, according to founder Mark Zuckerberg.

Social network Facebook reported a 49pc increase in revenues for the first three months of 2017, reaching the $8bn milestone.

Facebook reported $7.8bn in revenues from advertising and $175m from payments and other fees.

‘We had a good start to 2017’
– MARK ZUCKERBERG

The company brought home a tidy $3bn profit, up 76pc on the first quarter of 2016.

Mobile advertising accounts for 85pc of Facebook ad revenue

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Facebook reported that daily active users now stand at 1.28bn, up 18pc on last year. Monthly active user figures reached 1.94bn, up 17pc year-on-year.

Mobile advertising revenue accounted for 85pc of Facebook’s advertising revenue, compared with 82pc last year. Facebook said that capital spending for Q1 was $1.27bn.

The company’s headcount has increased 38pc on last year to 18,770 people.

“We had a good start to 2017,” said Mark Zuckerberg, Facebook founder and CEO. “We’re continuing to build tools to support a strong global community.”

Mark Zuckerberg profile on Facebook mobile app. Image: dolphfyn/Shutterstock

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

editorial@siliconrepublic.com