You probably guessed right. The answer is a big NO! Facebook beats analyst expectation yet again!
Facebook continued its momentum through the second quarter of the year by adding roughly 60 million users to boost its total monthly active users to 1.71 billion people on Facebook. If you are more interested in a day to day basis, there are now 1.13 billion people who are active on Facebook every day. The growth is not limited to the core Facebook product either. There are now 1 billion people on Messenger each month, up from 900 million. Instagram also has more than 500 million monthly active users with more than 300 million people using it daily. These are huge milestones for Facebook as it proves its ability to create products that can drive consistent engagement.
The success is mainly driven by a huge uptick in its ad business revenue as advertisers double down on Facebook as the platform to engage their audience. Facebook beat every aspect of analysts expectations, this time posting quarterly earnings of $6.44 billion while analysts only expected $6.02 billion, up 63% year-over-year. Shares in the company rose as much as 8% in the after-hour market trading.
Here are some additional notable stats from the earnings release that shows why Facebook is the most important social network for advertisers:
- 60 million active business pages
- 49% increase in ad impressions
- 2.5 trillion posts on Facebook
- 2 billion searches per day
- More than 4 million 360 photos have been shared on Facebook
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