Facebook posted its second quarter earnings for investors today. The social media giant reported $6.44 billion in revenue and $2.05 billion in profit. That’s a 59 percent increase over the $4.04 billion in revenue during the same period last year. Its monthly active users now number 1.71 billion, a 15 percent increase from this same period last year, and it has more than 1 billion daily active users on mobile, where 84 percent of its revenue is generated. If Facebook continues growing at this pace, it will have over 2 billion monthly active users by the end of next year.
Since its IPO four years ago, Facebook’s stock price has more than tripled. With Facebook, Messenger, and WhatsApp each being used by over 1 billion people, the company has proven that it can continue to grow. Facebook also appears to have figured out how to effectively monetize its apps, generating over 84 percent of its revenue from mobile users. And so far the vast majority of that revenue comes from Facebook and Instagram, with Messenger and WhatsApp still largely untapped.
Mark Zuckerberg is looking well beyond social networking for Facebook's next act. The company is spending billions on research and development of virtual reality, high-speed wireless connectivity, and drones that beam internet access down from the sky with frickin' lasers.
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