Wednesday, 31 October 2018

Facebook Active Users Hits 2.27 billion monthly users

Photo Credit: Getty Images
Facebook avoided a repeat of a disastrous second quarter on Tuesday, reporting that the company's social network now serves 2.27 billion monthly users.
Facebook officially  announced that it generated revenue of $13.7 billion in the third quarter of the year, slightly below what Wall Street analysts expected — but good enough to avoid another stock price plunge.
Mark Zuckerberg, Facebook's chief executive officer, said in a press release that the company's suite of services — Facebook, Instagram, Messenger and WhatsApp — now serve more than 2 billion people every day.
 
 
ALSO READ: How to Get 1K Instagram followers in one month!:the step by step process
 

"We're building the best services for private messaging and stories, and there are huge opportunities ahead in video and commerce as well," Zuckerberg said.
Facebook generated $5.1 billion in profit this quarter.
 

While the days of its meteoric growth in the U.S. are over, Facebook said it added users in the Asia-Pacific region and in other parts of the world, more than offsetting a slight dip in European users.
 
In after-hours trading, Facebook stock dipped sharply in the minutes after announcing its earnings but recovered to add about 1.7 percent as of 4:24 p.m. ET.
 
In July, Facebook shares plunged more than 20 percent after the company warned that it would be less profitable in the years ahead.
 
Facebook has also endured a series of issues including ongoing concerns about foreign influence campaigns ahead of the 2018 U.S. midterm elections and a security breach that revealed the personal information of more than 14 million users.
   ALSO READ: 3 million Facebook Accounts in Europe HACKED!

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