More than 1.39 billion people now use Facebook on mobile devices, including more than one billion on Android.
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Similar to what Alphabet’s third-quarter earnings reported, Facebook made a lot from advertising on mobile. The same quarter a year ago saw the organization earning $3.2 billion, meaning the jump has been a hefty $1.3 billion. The social network crossed the 1 billion mark in September 2012 which means, it took about three and a half years to increase its user base by about 50 percent.
Facebook also reported that developing markets had seen strong growth in the number of users.
Facebook’s total costs grew 68 per cent to $3.04 billion in the third quarter, due mainly to its heavy investments on artificial intelligence, virtual reality and its efforts to expand internet access in emerging markets.
What’s more, mobile advertising accounted for about 78% of overall ad revenue for the quarter, which totalled US$4.3bil (RM18.50bil).
Shares in Facebook rose about 5 percent to an all-time high of $109.34 (£71.09) in extended trading.
Facebook chief executive Mark Zuckerberg welcomed the results and said the firm would continue its focus on growing video. There are now 400 million monthly active users on Instagram; over 700 million on Messenger, and 900 million on WhatsApp.
According to the social network giant, its daily active users (DAUs) increased 17% to $1.01 billion.
“Instant Articles not only connect readers to stories faster; they also provide a richer reading experience than standard mobile web articles, with dynamic features that make the content more fluid, interactive and immersive”, Facebook product manager Michael Reckhow said.
“Facebook is doing a good job across the board: continued user growth, increase in advertising, and increase in mobile and efficient use of the cash”. Its advertising revenue is projected to grow to US$2.8 billion by 2017.
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Currently, Facebook averages a whopping one billion users each day.
