As late as April of this year, pundits were predicting that Facebook’s best days were behind it. But with the release of its latest quarterly results, it’s clear that the world’s largest social media platform continues to surprise industry analysts.
Contrary to reports that fans were moving away from the platform, the latest quarterly results beat most analysts’ expectations:
- 1.32 billion users around the world logged in last month with more than 1 billion using the service on mobile devices
- In the U.S. 1 out of every 6 minutes people spend online are with Facebook ,and more than 6 in 10 users log on daily
- $2.91 billion in revenue, up 61% from last year, accounting for 5.8% of the world’s $120 billion in digital ad revenues
- $791 million in net income, up from $333 at this time last year
- 2/3rds of revenues are coming from mobile, which adds up to almost 18% of the world’s total mobile ad spending
Advertisers are also giving the service high marks for the quality of a bigger right hand ad format, new video ad formats, and Instagram ads that attempt to create better emotional connections with users.
Bottom line: If you’re an advertiser trying to reach new customers, Facebook is still the most efficient channel to buy, with 1 out of every 2 internet users on the planet logging in every month.