Facebook Almost Reach 2 Billion Monthly Users, Generates $7.86 Billion Revenue

Facebook Almost Reach 2 Billion Monthly Users, Generates $7.86 Billion Revenue
Facebook is getting close to surpassing two billion monthly active users: The social network ended the third quarter with 1.94 billion monthly users, adding close to 300 million in a single year.

Much of Facebook’s usage growth continues to be driven by mobile.

The company revealed these latest growth metrics as part of its Q1 2017 earnings report Wednesday Facebook generated a total of $7.86 billion in revenue during the first quarter, compared to $5.38 billion during the same quarter a year ago. Facebook’s net income for the first quarter was $3.06 billion, compared to $1.51 billion a year ago.

This equals earnings per share of $1.04, compared to $0.60 a year ago. Analysts had expected revenue of $7.83 billion.