Facebook reports 28% rise in revenue to $16.9 billion in Q2
The number of daily active users stood at 1.59 billion and the number of monthly active users was 2.41 billion
Facebook has posted $16.9 billion in revenue in the Q2 earnings, according to media reports. This is said to be a growth of 28% compared to last year. The revenue from advertising has reportedly been pegged at $16.62 billion.
The social media giant’s earnings per share is said to have risen by $1.99 cents. The number of daily active users stood at 1.59 billion and the number of monthly active users was 2.41 billion. Facebook said it counts more than 2.7 billion monthly users across the family of apps, up slightly compared to the previous quarter. The Average revenue per user has been reported as $7.05, an increase of 18% from last year’s $5.97.
The financial results were announced hours after Facebook struck a privacy agreement with the Federal Trade Commission.
On a call with analysts after the report, CEO Mark Zuckerberg reportedly said the platform believes that there needs to be a regulatory framework in place. “My broader concern is that if that doesn’t get put in place, then frustration with the industry I think will continue to grow,” he was quoted as saying.For more updates, be socially connected with us on
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