Facebook has announced its financial results for the second quarter of this year and mobile ads are big business for the social network.

“We had a good second quarter and first half of the year,” Facebook founder and chief executive officer Mark Zuckerberg said in a statement. And indeed it did.

For the period ending 30th June Facebook brought in revenue of $9.321 billion. After expenses, tax and sundry Facebook brought in $3.894 billion in net income.

The social network reports that 87% of advertising revenue comes from mobile advertising. That’s a 3% increase from the same period last year and a 2% increase on last quarters results.

However,as TechCrunch points out, revenue growth is slowing down.

“Revenue growth was 44.7 percent year-over-year [for Q2 2017], compared to 59 percent in Q2 2016, indicating that revenue growth is slowing down in line with Facebook’s warning to investors that it was running out of space to show ads in the News Feed,” writes TechCrunch.

With that having been Facebook now boasts 1.32 billion daily active users and 2.01 billion monthly active users, a 17% increase year-on-year.

It is also interesting that Facebook’s headcount has increased 43% to 20 658 year-on-year. A sign that Facebook is getting ready for growth? We’ll have to wait and see.

Zuckerberg also shared a few fast facts about his firm in a post which reveals that despite the controversy at launch, 250 million people are using Whatsapp’s Status feature.

 

Brendyn Lotz writes news, reviews, and opinion pieces for Hypertext. His interests include SMEs, innovation on the African continent, cybersecurity, blockchain, games, geek culture and YouTube.