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Facebook is still holding firm

Facebook is still holding firm

Not as many corporations are ditching Facebook regardless of the fact that many vowed to do so recently. The numbers reveal that those that actually go through with the abandonment are in minority. No matter what you think about the social media giant, recent figures prove that Facebook is very hot right now.
Yesterday, Facebook released its first quarter results showing the high numbers in usage and revenue and their continued soaring. According to the numbers, over 1.2 billion people use Facebook, every month. A 15% jump up from last year. Everyday usage is up by 21%, with 802 million people utilising the social network on a daily basis.

Total revenue in the first-quarter saw a 72% increase compared to the same period last year [2013]. In the first quarter of 2014, Facebook raked in a total of $2.5 billion, a total of $642million was profit, compared to last year’s $219 million. Advertising revenue was also on the up; up 82% from the corresponding quarter last year. Facebook banked a totalled of $2.27billion from advertising in the first quarter of 2014.

Recently, Facebook acquired Apple’s top app of 2013, Instagram. At a price tag of $1 billion, this was Facebook’s largest acquisition yet and is a push by the social network to get more of the users, who rely on portable devices for their digital needs. Good news for all Instagram users, the photo-sharing app is to remain ad free. For now. And the app has insisted that it would continue to develop with a degree of independence from Facebook.


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