Facebook profits rise 70% as it hits 2bn monthly users

Facebook's ad revenue surged by almost 50% year on year in the second quarter of 2017 to $9.2bn (£7bn), as its profits climbed 71%, but the platform warned the rise of video on the platform could slow growth.

Facebook profits rise 70% as it hits 2bn monthly users

Globally, the platform had an average of 2.01 billion users each month during the quarter, up 17.5% year on year and surpassing the 2 billion mark for the first time, and 1.32 billion each day, a rise of 16.8% year on year.

According to Facebook’s second quarter results, the social network’s global total revenue was $9.32bn, up 44.8% year on year. Ad revenue rose 46.8% to $9.16bn. 

Mark Zuckerberg, Facebook founder and chief executive, said: "We had a good second quarter and first half of the year. Our community is now two billion people and we're focusing on bringing the world closer together."

Facebook’s European advertising revenue was $2.21bn during the three months to the end of June 2017, up 18.2% year on year. The region had 360 million monthly active users, up 1.7% year on year.

On an investors call following the results, David Wehner, chief financial officer, voiced a note of caution, saying Facebook's ad load will begin to take a less significant factor in driving advertising revenue growth and desktop ad growth will slow as the platform's efforts to mitigate ad-blocking falter.

Wehner added: "In addition, we expect that our strategic focus on driving engagement with mobile video may slow advertising impression growth given the relatively fewer ad impressions in video relative to News Feed.

"I would also note that we do not see our early efforts in Messenger monetisation offsetting the factors
that I just mentioned."

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1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).