Facebook Crushed its #’s in Q2 2016
With a nearly 60% revenue jump and 15% growth in monthly active users since last year, Facebook’s second quarter performance announcement yesterday clearly exceeded investors’ expectations. After the earnings call on Wednesday, the social network juggernaut saw its market capitalization reach an all-time high of $363 billion.
Facebook’s impressive second quarter was driven largely by its sizable advertising business, overwhelmingly in mobile ads, which contributed 84% of total sales. According to COO Sheryl Sandberg, more than 60 million active corporate users now promote their products and services via Facebook’s business pages. Going forward, the company hopes to create further growth via mobile-based video ads.
“We’re going to become video-first,” CEO Mark Zuckerberg during Wednesday’s call. “We have a saying that our journey is only 1% done. That means making big investments and taking risks”
Currently Facebook boasts three million monthly active advertisers.