With 2 billion users and counting, Facebook’s profit and revenue soar
Facebook reported its second quarter earnings today, and the results were predictably positive. The social network passed 2 billion monthly users earlier this summer, with over 1.3 billion using its software every day. The company parlayed that audience into $9.3 billion in revenue and $3.89 billion in net income. That’s a 71 percent higher profit than it reported for this same period last year.
The one criticism you could make of Facebook’s results is that the rate of growth for both its revenue and profit were down a few percentage points. But that seems only natural as the company works with ever larger numbers. Facebook has warned repeatedly that it expects revenue growth to slow meaningfully this year, as it reaches a point where it...