Facebook Reports Huge and Increasing Profits
Mike Sanders / 7 years ago
Facebook and more specifically it’s owner, Mark Zuckerberg, is filthy rich. The grass is also green. I know, telling you this isn’t going to be a massive revelation. The people it should only come as a shock to are those that live as hermits in remote caves. What may surprise you, however, is that the social media site, for this year, has reported a massive increase in revenue. Doesn’t that just cheer you up immensely?
Facebook is generating massive advertising revenue which continues to increase
Despite reports that Facebook is in decline, figures suggest anything but. In a recent report by the BBC, it was confirmed that the social media site received over 2 billion unique log-ins each month. Basically, just under a quarter of the entire human population checks their status updates. Founder and CEO of Facebook Mark Zuckerberg has said that he wants even more people using the site.
This amount of traffic makes the social media site quite possibly the best advertising market place that has ever existed.
Facebook has reported that revenues reached $9.3bn over the April to June period. This represents figures which are jumping 45% year-on-year.
It’s not all about Facebook
You simply can not deny that Mark Zuckerberg is a shrewd businessman. He hasn’t relied solely on his social media site to make him money and makes regular and generally speaking wise investments.
The following is a list of acquisitions Facebook has made in recent years.
- Oculus VR
Not bad investments, I think you would agree.
Speaking about the profits, Mark Zuckerberg has said: “We had a good second quarter and first half of the year.” – The smart diversifying of the company, such as in competitors who offer something Facebook doesn’t, has built on the growth of the company and the future is looking pretty rosy.
Getting back to Mr. Zuckerberg’s comments, all I have to say is this: if you call $9.3b ‘good’, I’ve love to see what you think is great. In fact… no, I wouldn’t.
