Facebook’s revenue grows 49% in Q1 as it nears 2 bn monthly users
Facebook’s total revenue grew by 49 per cent year over year to USD 8 billion, and advertising revenue was up 51 per cent to USD 7.9 billion in the first quarter of 2017.
In March, 1.28 billion people visited Facebook on an average day, up 18 per cent compared to last year. Over 1.94 billion people visited Facebook during the month of March 2017, an increase of 17 per cent year-over-year.
“We started the year off with a good quarter. Our community continues to grow, with more than 1.9 billion people now using Facebook every month and almost 1.3 billion people using it every day. Our ads business is doing well too,” said Mark Zuckerberg, Facebook founder and CEO.
Mr Zuckerberg reiterated the company’s push for augmented reality (AR) for its vision ahead, after the launch of its Camera Effects features in Q1 2017. “This quarter we launched a set of new cameras. This is part of making the camera the first augmented reality platform. We want to give developers the power to build all kinds of AR tools in the camera so more people can experience augmented reality on their phone. Creating the first open camera platform is a huge step forward, and we’re excited to keep pushing augmented reality forward,” he added.
Q1 ad revenue grew 51 per cent year over year. The company’s mobile advertising revenue was at USD 6.7 billion, up 58 per cent year over year, and represented approximately 85 per cent of advertising revenue for the first quarter of 2017.
Dave Wehner, CFO, Facebook explained,”In terms of regional advertising growth, rest-of-world and Asia-Pacific were our strongest growers in percentage terms at 66 per cent and 60 per cent respectively. Both regions benefited from particularly strong advertiser demand.”
“Our community growth in Q1 was driven by product improvement, internet.org, and ongoing third-party promotional data plans in markets like India,” Mr Wehner concluded.
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