Of these, 1.31 billion accessed the service through mobile devices, a rise of 23 percent.
Net profit for shareholders dipped nine per cent from a year earlier to $US715 million ($A980m).
“This was another strong quarter for our community”, said Mark Zuckerberg, Facebook founder and CEO in a statement.
“We’re staying focused on our three main priorities: capitalizing on our shift to mobile, growing the number of Facebook marketers and making our ads more relevant and effective”, said Facebook COO Sheryl Sandberg.
Facebook – which also houses photo-sharing app Instagram, messaging app WhatsApp and virtual reality goggle-maker Oculus – has been working on initiatives to grow engagement, such as adding music videos. That is expected to bring in about $600 million in revenue to Facebook this year, increasing to $1.48 billion in 2016 and $2.81 billion in 2017, according to new projections by eMarketer, a research firm.
Still, despite such encouraging signs, investors seemed disturbed that Facebook blew through so much cash in the quarter, and they sent its share price downward by more than 3 per cent in extended trading on the report.
The largest social network in the world reported that almost 3 quarters of its revenue from advertising as well as most of the 1.44 billion users that frequent the social network do so from mobile devices and smartphones.
MENLO PARK, Calif. – July 29, 2015 – Facebook, Inc. today reported financial results for the quarter ended June 30, 2015.
Its earnings were also slightly better than Wall Street was expecting, at $0.50 per diluted share.
Daily active users increased to 968 million in June, up 17% from the same month past year.
It’s not exactly surprising though – Facebook’s latest population figures reveal the social network boasts 1.49 billion monthly active users as of June.
An analyst at Forrester Research, Nate Elliott said that it’s particularly remarkable that people are more engaged on FB than ever before, and the percentage of users who visit the site on daily basis continue to increase.
The average estimate of 18 analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share. Facebook’s costs and expenditure grew by 82% to $2.8bn. Mobile advertising now accounts for 76% of Facebook’s ad revenues.
MLADEN ANTONOV AFP GettyImagesFacebook’s earnings have investors and analysts hitting”Like. So what’s next for the social network