Facebook is about to reach 2bn users. While getting closer to a revolutionary number, the social media application is heading to become a select group of worldwide companies.
With profits growing to 45pc, Facebook is supposed to publish a full report this week including its recent results.
Based on the company profit and reach, the report should translate the fact that the number of users who monthly log in has increased to 1.9bn. This increase was to happen in February, March and April.
Growth of Revenue and users
In 2016, the social network had reached 1.86 billion monthly active members compared to 1.59 billion in 2015. Facebook is currently at its highest peak.
According to David Wehner, Chief Financial Officer (CFO) of Facebook, there are more people joining Facebook this quarter in comparison to last year more than any quarter since 2012.
Despite the investors’ fears, the social network won the challenge and surpassed every expectation by growing faster than ever.
Looking at the past years of Facebook, its growth is continuing. In 2015, Facebook’s revenues were $17.9 billion whereas in 2016, the revenue grew to reach $27.6 billion.
“Our mission to connect the world is more important now than ever. Our business did well in 2016, but we have a lot of work ahead to help bring people together,” Founder of Facebook, Mark Zuckerberg, said in a statement.
Facebook faces challenges
The challenges Facebook face are not only about the money, the social media application faces more pressures such as the propagation of fake news and its ability to control the material that people share.
While Mark Zuckerberg promises to put in place new policies control violence on Facebook’s live broadcasting new feature and to fight fake news, some analysts think that the social network will eventually lose its sparkle.