Facebook nears two billion monthly users

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Facebook’s profits have jumped within the first three months of the year, as the social network closes in on two billion users, according to its latest results.

The number of people using Facebook each month increased to 1.94 billion, of which nearly 1.3 billion use the idea daily, the company said.

The US tech giant reported profits of just over $3bn (£2.4bn) within the first quarter, a 76% rise year-on-year.

However, the idea warned of which growth in ad revenues could slow down.

The company has also come under sustained pressure in recent weeks over its handling of hate speech, child abuse along with also also self-harm on the social network.

On Wednesday, Facebook chief executive Mark Zuckerberg announced the idea was hiring 3,000 extra people to moderate content on the site.

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A quarter of the earth’s population at of which point uses Facebook every month, with most of the brand-new users coming coming from outside of Europe along with also also North America.

Speaking after the results, Mr Zuckerberg said the size of its user base gave Facebook an opportunity to expand the site’s role, moving into TV, health care along with also also politics.

“With of which foundation our next focus will be building community,” he said. “There’s a lot to do there.”

Ad slowdown

The company grew its revenue coming from advertising, which accounts for almost all of Facebook’s income, by 51% to $7.9bn within the period.

However, chief financial officer David Wehner said ad revenue growth could come down significantly over the rest of 2017.

He repeated previous warnings of which Facebook was hitting a limit on the number of ads the idea can squeeze onto users’ pages.

Martin Garner, an analyst at CCS Insight, said: “the idea’s at of which point clear of which last year’s stellar results coming from Facebook represented the peak of online advertising growth, as Facebook had warned.”

Mr Garner said the company needed to start showing the idea could make more money coming from its some other products, including Video, Instagram, Whatsapp, Messenger, along with also also virtual reality.

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