Belfast Telegraph

Sunday 20 April 2014

Facebook revenue and profits in big hike

Facebook CEO Mark Zuckerberg
Facebook CEO Mark Zuckerberg

Facebook has seen its second quarter revenue soar to $1.813bn (£1.18bn) – a 53% increase, or £770m), on last year's total.

The world's biggest social network made $333m (£217m) in net income from April to June compared with a net loss of $157m (£102m) a year ago, according to the company's latest results.

An average of 699 million people used the social media platform every day in June, it said, an increase of 27% on the same time last year.

The number of monthly users accessing Facebook on mobile devices – including smartphones and tablets – rose by 51% year on year to 819 million in June.

Facebook founder and chief executive Mark Zuckerberg said: "We've made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile.

"The work we've done to make mobile the best Facebook experience is showing good results and provides us with a solid foundation for the future."

The firm said it made $1.6bn (£1bn) of revenue from advertising, which was 88% of total revenue and a 61% increase from the same quarter last year.

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