You may have heard the rumours – that Facebook is “dying”. Well, they’re wrong. Facebook is doing great actually! And I’m not talking just about Facebook as a platform. I’m also talking about Facebook as a hugely successful company and a social media empire.
Mark Zuckerberg recently took the stage after Facebook’s Q1 2016 earnings report (which is astounding by the way) and told us that
[quote]people around the world spend, on average, more than 50 minutes a day using Facebook, Instagram and Messenger — and that doesn’t count WhatsApp.[/quote]
In July 2014, that was 40 minutes a day! Facebook as a company is a lot more than just “Facebook”. It’s an ecosystem of different ways to communicate and to experience the world. Photo sharing and editing, live streaming, virtual reality, 360 video, social networking, social messaging… The “empire” that is Facebook doesn’t seem to know limits – for now.
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The numbers don’t lie. Revenue was up 52% from 2015, at $5.38B. The company’s net income increased almost 3 times to $1.51B. Ad revenue rose 56.8% to $5.2B, and 82% of that is on mobile. Mobile dominance is only an indication of things to come. That’s 9% higher than 73% last year! Sure, Snapchat poses a direct threat in things like video, and Twitter’s Periscope does a great job of live streaming, but Facebook still reigns supreme.
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In terms of users on its main platform, Facebook still crushes the competition, and is still growing. Today the platform has 1.65B users, compared to 1.44B last year. And people are using it more… 66% MAUs log in daily. That might only be 1% higher than last year, but that’s a huge amount of users!
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Yup! Facebook is giving investors something to talk about!
Image credit: BidnessEtc
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