Social networks were never before as successful as Facebook is.
The small project founded by Mark Zuckerberg has become a behemoth, commanding more than 1.7 billion users worldwide.
Even with China’s Great Firewall blocking it, the global reach of Facebook is astounding.
Facebook reported $2.05 billion in profit for Q2 /2016, compared to $719 million a year ago.
Average revenue per user, is now $3.82, up 15% from the previous quarter.
With $6.44 billion in revenue, Facebook stock hit an all-time high of $123.34 dollars. They also stock-piled $23 billion dollars in cash.
“Our community and business had another good quarter,” said Mark Zuckerberg, Facebook founder and CEO. “We’re particularly pleased with our progress in video as we move towards a world where video is at the heart of all our services.”
This is great performing data from the world’s largest social network.
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Facebook wants a piece of China’s market.
You can view the latest report below.
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