Facebook Reports Massive Q3 Earnings and 1.55 Billion Monthly Users
It’s not breaking news that Facebook is dominating social media and absorbing everything that becomes remotely interesting or popular (think WhatsApp and Oculus Rift).
The firm can surely afford it though – in what Mark Zuckerberg describes as a ‘good quarter,’ Facebook managed to amass $4.5 billion in revenue during the third quarter of 2015. The same quarter last year saw the organization earning $3.2 billion, meaning the jump has been a hefty $1.3 billion.
As a result, the social playground has posted a profit of $896, a good $90 million from a year ago.
In the eyes of most, that’s more than just a ‘good quarter’ as it’s been aptly put by Mr. Zuckerberg.
The money generation is largely thanks to ads. Almost all of the income generated was from advertisements – just short of $4.3 billion. That’s a 45% increase in revenue generation from ads from last year, which was at “only” $2.96 billion exactly one year ago.
This revenue generation also comes with noticeable increase in activity. Facebook has reported that it boasts 1.55 billion monthly active users, and more than a billion people visit the site on a daily basis. Most of these users are now accessing the social media network from mobile devices.
“On mobile, we continue to have a lot of momentum. More than 1.39 billion people now use Facebook on mobile devices, including more than one billion on Android. 50 million people also use Facebook Lite, our app for people on low bandwidth connections, and one of our fastest growing interfaces. This is a great sign of how our mobile strategy continues to make progress across markets, devices and platforms.”
Zuckerberg also used the recent earnings call to talk about his desire to ‘serve the global community’ by connecting everyone on the planet. The idea certainly attracted investors, as shares of Facebook increased by as much as 5.8 percent to hit almost $110.
Source: Hot Hardware