Facebook acquires over 3- Billion monthly users.
Facebook has acquired over 3-billion monthly users across all its applications.
The CEO and founder of Facebook, Mark Zuckerberg revealed this to analysts after Facebook’s release for the first quarter of 2020.
Zuckerberg said, “For the first time ever, there are now more than 3-billion people actively using Facebook, Instagram, WhatsApp, or Messenger each month”.
Monthly active users on the app ‘Facebook’ have increased by 10% from 2.38-billion in the first quarter of 2019 to 2.6-billion in the first quarter of 2020.
Daily active users averaged 1.73 billion in March 2020 which depicts an increase of 11% year after year.
Facebook managed to surpass the estimation of analysts to post revenue of $17.74-billion and a net income of $4.9-billion in the first quarter of 2020.
Mostly, the social media company generates its revenue from online advertising.
Zuckerberg, however, says the company is expecting a “meaningful economic hit” in the coming months due to the effect of the ongoing pandemic on advertising.
“I remain very concerned that this health emergency and therefore the economic fallout will last longer than people are currently anticipating,” Zuckerberg further stated.
However, Facebook’s advertising revenue became stagnant for the first three weeks of April.
According to analysts, this could be a sign of hard times ahead for online advertising.
In these times of the COVID-19 crisis, Facebook has been up and doing to control the situation.
Facebook is curbing the spread of false information about COVID-19 since the deadly Coronavirus become a pandemic.
In addition, Facebook introduced new features to help businesses operate so they survive during and after the pandemic.
Also, Facebook has launched COVID-19 information centers in 42 African countries to keep users informed by providing the latest news and information from trusted health authorities as they stay home.
Facebook, Inc. is an American social media and technology company based which was founded in 2004.