According to Facebook’s latest results, their profits have increased in the first three months of 2017. It’s not surprising when you consider the number of monthly users has escalated to 1.94 billion people – 1.3 billion of which check their account on a daily basis.
With greater access to the internet, most of Facebook’s new users are coming from North America and outside of Europe.
Facebook heading towards health care and politics
Chief Executive Mark Zuckerberg is keen to take full advantage of the opportunities such a large user base can offer by expanding the site’s role and branching out into TV, health care and politics. With a quarter of the population using the social platform, Zuckerberg said “… our next focus will be building community… There’s a lot to do there”.
$3 Billion Profits
Social media is big business and Facebook is at the top of its game, reporting a 76% increase in profits year-on-year, with profits totalling just over $3bn (£2.3bn) in the first quarter alone; advertising accounted for almost all of Facebook’s income, with revenue increasing by 51% to $7.9bn (£6.1bn).
Having previously warned that the revenue from adverts would significantly decrease due to the limits on the number of ads it can squeeze into its users’ newsfeed’s, Facebook’s Chief Financial Officer, David Wehner has reiterated that ad revenue will indeed decline during the rest of 2017.
Take a leaf out of Facebook’s book and stay connected
It’s a good reminder that even multi-billion dollar companies need to keep on their toes in today’s fast-paced world. You can do the same and take a positive step in the right direction by ensuring your customers are able to connect with you 24/7.
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