Despite the platform’s data and privacy scandals, it has been confirmed that Facebook’s year-on-year revenues are still on the up.
Facebook released its quarterly earnings to 31st March 2018 last week, and it has seen its advertising revenues leap 50% year-on-year to $11.79 billion.
Mobile advertising revenue also represented 91% of total revenue during the first quarter, which was up 6% from Q2, 2017.
The platform has also received an average revenue per user increase, up from $4.14 globally in Q1, 2017 to $5.45 in Q1, 2018.
Facebook reached 1.45 billion daily active users on average for March 2018. This was an increase of 13% year-on-year.
Monthly active users was 2.2 billion on 31 March, which is again an increase of 13% year-on-year.
Facebook’s CEO Mark Zuckerberg said: “Despite facing important challenges, our community and business are off to a strong start in 2018. We are taking a broader view of our responsibility and investing to make sure our services are used for good. But we also need to keep building new tools to help people connect, strengthen our communities, and bring the world closer together.”
Zuckerberg also spoke to CMO about Facebook’s latest data and privacy scandal: “It’s clear now we didn’t do enough to prevent these tools from being used for harm as well – whether it’s foreign interference in elections, fake news, hate speech or app developers and data privacy. So we are now going through every part of our relationship with people and making sure we’re taking a broad enough view of our responsibility – not just to build tools, but to make sure those tools are used for good. This means continuing to invest heavily in safety, security and privacy.”
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