Facebook’s quarterly revenue recorded 50 per cent growth, which was massively higher than expected. The popular mobile app and a push into live video is reported to have ‘lured’ new advertisers in and encouraged an increase in spending among existing advertisers.
According to the latest statistics around 1.65 billion people used Facebook monthly as of March 31, up from 1.44 billion a year earlier.
Facebook founder Mark Zuckerberg said users were spending more than 50 minutes per day on Facebook, Instagram and Messenger on average.
It appears that more and more advertisers are shifting money from television to the web and mobile platforms, which accounts for the huge revenue growth at Facebook.