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Facebook’s Zuckerberg hails 'strong quarter' as users hit 1.49 billion while second Quarter Profits were up 39% year-on-year to $4.04bn

Facebook’s Zuckerberg  hails 'strong quarter' as users hit 1.49 billion while second Quarter Profits were up 39% year-on-year to $4.04bn
(BBC) - Facebook boss Mark Zuckerberg has hailed "another strong quarter" after reporting the number of people who check into the social network at least monthly grew 13% to 1.49 billion.

The rise in monthly active users helped drive second quarter revenue up 39% year-on-year to $4.04bn (£2.6bn).

Mobile advertising revenue was the biggest factor, accounting for 76% of total advertising revenue.

Its results beat forecasts, but shares fell over 4% in after hours trading.

Analysts said the drop was linked to the high expectations for the firm, which typically tends to beat forecasts, as well as concern over its expenses.


In the three months to the end of June, net income fell 9.1% to $719m - equal to 25 cents a share, but the firm said if various expenses were excluded earnings would have been 50 cents a share.

The social network giant warned in April that expenses could rise by up to 65% due to various investments in new staff, changes aimed at improving mobile revenue and the cost of improving products such as messaging service WhatsApp and photo-sharing app Instagram.

"This was another strong quarter for our community," said Mr Zuckerberg.

"Engagement across our family of apps keeps growing, and we remain focused on improving the quality of our services." 
 

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