This morning it was announced on Radio 1 that on Wednesday, Facebook revealed that they have reached all time high in profits over the recent quarter. With the site reaching 2 billion monthly active users only one month ago and a huge increase in Facebook ads, their revenue hit £7.09 billion throughout the April to June period.
It’s been noted for some time that Facebook advertising has been skyrocketing, but with the continued help of the ever-increasing number of users emerging onto the site (over 700,000 a day), this revenue is a 45% increase from the year before. The company also mentioned that a significant amount of the advertising revenue is represented by mobile ads, now 87%, which is a sizable increase of 84% from a year ago.
“We had a good second quarter and first half of the year,” said Chief Executive Officer of Facebook Mark Zuckerberg. Here’s what he had to say about hitting two billion people on Facebook in June:
Monetizing other Social Media platforms
With the increase of Facebook ads and monetization of our news feeds, the company is exploring how it will do the same on their other social media platforms, WhatsApp and Instagram. It was said that Instagram has received a huge growth in users, however, Facebook has remained to be the biggest push in revenue.
On top of this, the firm are in early advertisement tests for its Messenger app in the hopes that it will generate a meaningful amount of revenue. Mark mentioned about this that “I want to see us move a little faster here,” he said. “But I’m confident that we’re going to get this right over the long term.”
It’s fascinating to hear just how much the popularity of Facebook is continuing and consistently is on the rise. As well as seeing what new advancements in technology and advertising that they will bring out in the future. If you found this blog interesting we would love to hear your thoughts over on our Twitter or Facebook, or feel free to check out the BBC’S article on this story for more statistics and quotes.