Friday, June 18, 2021

Facebook Reports Record-Breaking Profit

In its earnings report for Q2 2017, Facebook reported $9.3 billion in revenue, including total ad revenue of $9.16 billion. That generated earnings of $3.89 billion, or $1.41 per share, which was a 71 percent year-over-year increase and beat analyst expectations of $1.34 per share.

The social network also revealed that mobile advertising now accounts for 87 percent of its ad revenue, or about $8 billion. It currently has more than 2 billion monthly users, 3.4 percent more than last quarter.

“We had a good second quarter and first half of the year,” said CEO Mark Zuckerberg. “Our community is now 2 billion people, and we’re focusing on bringing the world closer together.”

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