As Facebook is developing ways to make money from its 1.1 billion users around the world, the social media giant now says that its profit has risen to $219m (£140m) in the three months to March, up from $205m (£131m) in the same period a year ago when the company was still private. This is taken from Facebook’s new quarterly figures which were published this week.
The profit uptick at Facebook is thanks to mobile ads, says founder Mark Zuckerberg: “We’ve made a lot of progress in the first three months of the year. We have seen strong growth and engagement across our community, and launched several exciting products.” One of which was Facebook Home, which was launched in late April.
Despite the overall growth numbers, the rate of growth seems to be slowing down according to reports also out this week. As the company has penetrated deeper into the U.S. and Europe, potential for new user growth now lies elsewhere, like Asia, where it is believed to focus Facebook’s growth efforts next. It’s interesting to see how that goes, especially in countries like China where their own QQ is seen as an equivalent of Facebook, with around 700+ million monthly active users.