Facebook Posts $1.06B in Revenue, Is Close To Billion Users Mark – ValueWalk Premium

Facebook Posts $1.06B in Revenue, Is Close To Billion Users Mark

Facebook Posts $1.06B in Revenue, Is Close To Billion Users Mark

On Monday, social media giant Facebook announced that it now has 901 million users. This places them on a path to surpass the 1 billion mark before year’s end.

The number came to light as the company included it in its amended Securities and Exchange Commission S-1 filing. Additional tidbits by the company included that the network takes in an average of 3.2 billion comments per day (likes and dislikes), 300 million new photos on a daily basis and 125 billion friendships, according to Mashable. From the 901 million number, in March, 526 million of them had been listed as daily active users.

In addition, 488 million people also used Facebook via their mobile products in March.

This number of users surpasses the 845 million number included by Facebook in its February IPO paperwork. The march toward one billion this year doesn’t come as a complete surprise to everyone: in January, Gregory Lyons, senior analyst at iCrossing, had estimated that Facebook would reach the coveted one billion mark by August.

Prior to Monday’s numbers, Facebook was already recognized as the social network leader globally. Twitter comes in right behind with its 500 million users from February. The company has said that only 140 million of these accounts are active.

First Quarter Results

Also included in Facebook’s amended S-1 filing on Monday, was its first quarter results.

The company reported $1.06 billion in revenue, a rise from the $731 million in the same quarter from the previous year, but a decline from fourth quarter 2011’s $1.131. Facebook had a $205 million net income, a drop from the previous year’s $233 million and a fall of $302 million sequentially.

On a daily basis, reported BGR, the website has 532 million active users, a rise from last year’s 372 million users and an increase from December’s 483 million users.

Facebook’s updated filing also noted that the company’s recent acquisition of Instagram was for $300 million in cash with 23 million shares from stock.


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