Published: Fri, May 05, 2017
Technology | By Kate Woods

Facebook profit surges, closing in on two billion monthly users

Facebook profit surges, closing in on two billion monthly users

Ad load is the number of ads on the website. Facebook Chief Financial Officer David Wehner warned growth in ad income will slow throughout the rest of the year. Looks like things will soon change for the better. Working with local law enforcement, Zuckerberg said Facebook was recently able to prevent one community member from acting on his expressed suicidal ideations.

The company generated $3.06 billion in net income, a 76% year-over-year increase from $1.7 billion in the prior-year quarter.

Stock in Facebook hit a new 52-week high of $153.60 earlier on Wednesday, before closing on the day down 98 cents to $151.90.

Zuckerberg says that he wants to create a "more civically engaged community" by helping people forge "meaningful groups" around shared interests such as parenting. According to which WhatsApp has 1.2 Billion active users. Facebook has built apps, for example for fundraising, but "it's clear we have more to do here".

Facebook (FB) is still moving full speed ahead in its plans to crush Snap (SNAP), the young social media company that remains Facebook's foremost opponent.

Facebook has had quite a rollercoaster ride so far in 2017. But the world's biggest social network is a powerhouse in online advertising.

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Also, the company said it would no longer break out mobile users, as mobile is now the norm. The company has also benefited as more advertisers purchase video ads.

Following its first-quarter earnings report, the company said it expects revenue growth to be down "meaningfully" after it stops increasing the frequency of marketing spots in the news feed later this year to avoid driving away users.

Mark Zuckerberg has expressed disappointment over the incidents that have taken place in the last few days.

But that slowdown hasn't arrived yet, at least not in the way those outside the company expected. However, this was slightly offset by a decline in Payments & Other Fees collected in the quarter, which was impacted due to a reduction in games played on the Facebook platform on PCs.

Zuckerberg also announced that Facebook will be adding more staff to moderate content in response to a number of violent attacks and murders that have been live streamed on the site, as well as a range of other offensive posts.

It is also stepping up efforts to combat fake news, which emerged as a major issue in last year's USA presidential election. "These are critical issues that need to be addressed".

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