World Economy

Facebook Profits Higher

Facebook Profits HigherFacebook Profits Higher

Facebook has reported that its quarterly profit surged as its ranks of monthly users closed in on two billion, but warned of rising expenses and slowing revenue growth, AFP reported. The leading social network said it made a profit of $3.06 billion on $8.03 billion in revenue in the first three months of this year, posting increases of 76% and 49%, respectively, compared to the same period last year. Meanwhile, the number of people using Facebook monthly increased 17% to 1.94 billion, according to the earnings report. “We had a good start to 2017,” Facebook co-founder and chief Mark Zuckerberg said in the release.

Add new comment

Read our comment policy before posting your viewpoints