Facebook has revealed a total revenue increase of $8.03bn for the first quarter of 2017. Total advertising revenues jumped 51% compared to the same period last year. Despite beating estimates, the company warned of a deceleration of growth in the future.
Total monthly active users increased 17% to 1.94 billion, up from 1.86 billion last quarter. Daily active users were up to 1.28 billion from 1.23 billion in Q4 2016.
Mobile now accounts for 85% of the company’s advertising revenue, up 1% from the last quarter. That’s $6.7 billion in ad revenue. Facebook announced profits were $3.06 billion, up 76% year-on-year.
Ads delivered increased 32% the year-over, with total revenue in North America increasing 47% and APAC noting a 60% growth.
Mark Zuckerberg noted in a statement:
“We had a good start to 2017. We’re continuing to build tools to support a strong global community.”
During the company’s subsequent earning’s call, its leadership addressed a range of issues including third-party verification of advertising effectiveness. Sheryl Sandberg said that Facebook was actively reviewing its metrics to extend its measurements.
Though not explicitly mentioned, competitor Snap Inc has been quite the theme for the social media network as it has been called out time and again for having ripped off Snapchat’s hallmark features. Zuckerberg wasn’t shy to explain his ambitions for the company’s augmented reality and camera features.
“I think we were a little bit late to the trend initially around making cameras the center of how sharing works. But I do think at this point we’re pretty much ahead in terms of the technology that we’re building, and making an open platform I think is a big step forward. A lot of people are using these products across our family of apps. And I would expect us to continue leading the way forward on this from this point on.”
One of the big themes over the last few months has been the company’s fight against fake news. Now, Facebook has pledged to hire an additional 3,000 content reviewers and develop tools which could help auto-remove offensive content.
“Over the next year, we’ll be adding 3,000 people to our community operations team around the world – on top of the 4,500 we have today – to review the millions of reports we get every week, and improve the process for doing it quickly. If we’re going to build a safe community, we need to respond quickly. We’re working to make these videos easier to report so we can take the right action sooner – whether that’s responding quickly when someone needs help or taking a post down.”
Despite fears over a decline in revenue, some analysts believe that Facebook is likely to continue some rather remarkable growth as it breaks into new markets and creates a whole host of new products.