Facebook’s advertising revenue jumped 50 percent, year on year, according to financial results released overnight. The social media giant appears to have seen little financial impact from a tumultuous 2018, reporting a net income just under $US 5 billion.
The company’s revenue so far in 2018 is $11.97 billion, up 49 per cent from the same time last year.
“Despite facing important challenges, our community and business are off to a strong start in 2018,” said Mark Zuckerberg, Facebook founder and CEO.
“We are taking a broader view of our responsibility and investing to make sure our services are used for good. But we also need to keep building new tools to help people connect, strengthen our communities, and bring the world closer together.”
Facebook also saw growth in daily and monthly active users. Daily active users were 1.45 billion in March 2018, a year on year increase of 13 per cent. Monthly active users also increased 13 per cent to 2.20 billion, according to the company.
Worldwide, Facebook users generated $5.53 each in Q1 2018, according to the latest ARPU numbers. That’s a significant increase from the Q1 2017 amount – $4.23. The US and Canada ARPU number was $23.59.
There was also a significant increase in the number of Facebook employees. Facebook’s headcount was 27,742 as of March 31, 2018, an increase of 48 per cent year on year.
‘We run ads’
The bulk of Facebooks revenue comes from advertising, something Mark Zuckerberg had to explain to senators at his recent congress testimony.
The Q1 results show Facebook pulled in $11.8b in advertising revenue, up 50 per cent year on year. The vast majority of that revenue comes from mobile advertising. Mobile advertising revenue accounted for 91 per cent of advertising revenue for the first quarter of 2018, up from 85 per cent of advertising revenue in the first quarter of 2017, according to the results.