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Thursday, July 27, 2017
Facebook has more that 2 billion users, profit and revenue soar


Facebook surpassed quarterly profit and revenue estimates on Wednesday as the social media giant has attracted more advertisers.

Total revenue rose 44.8 percent to $9.32 billion.

"We had a good second quarter and first half of the year," said Mark Zuckerberg, Facebook founder and CEO. "Our community is now two billion people and we're focusing on bringing the world closer together."

"In mobile we're continuing to see great strengths," Facebook Chief Financial Officer David Wehner said in a phone interview.

"We're seeing more and more ad dollars getting allocated to mobile, and we think that trend will continue," he said.

Net income attributable to Facebook shareholders rose to $3.89 billion, or $1.32 per share, in the second quarter ended June 30 from $2.28 billion, or 78 cents per share, a year earlier.

Mobile ad revenue accounted for 87 percent of the company's total advertising revenue of $9.16 billion in the latest quarter, up from 84 percent a year earlier.

Facebook has not said how much of its revenue is attributable to its Instagram unit.

The company said about 2.01 billion people were using its service monthly as of June 30, up 17 percent from a year earlier.



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