Facebook nearing the 2 billion monthly users markBy Robin-Leigh Chetty 2 February 2017 | Categories: news
Facebook recently released its Q4 and full year 2016 earnings reports to investors. For shareholders, the results made for a pleasing read, as Facebook detailed a quarterly revenue of $8.8 billion and $3.56 billion in profit. This mark yields a year-on-year revenue of 51%, surpassing initial analyst projection of 46%. Of more interest to us, however, is the fact that an estimated 1.86 billion users are active on the social media platform on a monthly basis.
In fact, Facebook predicts it will breach the 2 billion monthly active user mark by the middle of this year. As The Verge points out, both online and mobile user numbers are being converged, driven by the fact that mobile advertising accounts for roughly 84% of revenue during Q4 2016.
For those looking to get a stake in Facebook on the back of this strong showing, the company's CFO David Wehner recently told investors that revenue will slow down during 2017 as the company looks to "aggressively invest" during the course of the year. Added to this, Facebook (which owns VR company Oculus) will have to fork out $500 million in a settlement with ZeniMax.
Nevertheless, Facebook shows no signs of losing momentum.
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