Facebook Posts Whopping $9.3B 2Q Revenue
Mobile advertising, again, was a big money maker for Facebook, driving the social media firm’s second quarter revenue to $9.3 billion.
It was a 47 percent increase over the year-ago quarter, enabling Facebook to easily surpass Wall Street’s expectations Wednesday. Mobile ads now account for roughly 87 percent of the company’s overall ad revenue.
Earnings per share came in at $1.32, a decided increase from the 78 cents earned during the second quarter of 2016.
“We had a good second quarter and first half of the year,” said Facebook CEO Mark Zuckerberg. “Our community is now two billion people and we’re focusing on bringing the world closer together.”
Facebook’s stellar results occurred despite the company’s rather unimpressive increase in user growth. Facebook sits at a 17 percent growth in user numbers year-over-year — much the same as in 2016. Sixty-six percent, or 1.3 billion, of the social media firm’s 2.01 billion users visit the platform on a daily basis.
For Zuckerberg, the results are about far more than money, however. The CEO took to his personal Facebook page to talk about his company’s mandate and goals for the future.
“I’m proud of the progress our community is making, and it comes with a responsibility to make sure we have the most positive impact on the world that we can. That’s why, last month, we updated Facebook’s mission to focus not just on connecting the world, but also bringing the world closer together,” Zuckerberg wrote.
“A big part of this is building community. We’ve set a goal to help one billion people join groups that become a meaningful part of their lives both online and in the physical world, and last month we rolled out new tools to help people start and grow communities on Facebook.”