Facebook disclosed its earnings for the second quarter of 2017 reporting positive business growth with impressive numbers for the California based social network giant.
Facebook crossed 2 billion monthly users earlier this year. It also recorded 1.3 billion users logging in from their app every day. The increased traffic on the network helped it generate $9.3 billion in revenues bringing in a net income of $3.89 billion.
Facebook recorded a 71 percent growth in profit from the same time period in 2016. The numbers are impressive but Facebook's revenue growth has come down a few points percentage wise. This is not much of an ordeal since the social media giant has accumulated an exponentially increased revenue.
There are also reports that Facebook is expecting a substantial pull down in revenues in 2017. The reason for the prediction is that Facebook has saturated the space for ads in the News Feed. If Facebook starts filling up news feeds with any more ads there will be a negative response from users.
Facebook CEO Mark Zuckerberg stated that the company is planning to monetize the Messenger app as well as Whatsapp. Both the apps have more than a billion monthly active users.
Facebook is also planning to increase original video content on its web platform. It plans to introduce episodic series with engaging content for users. If Facebook successfully revamps its platform with more original video content, it can be expected that the social network could develop into a platform like YouTube. This also means Facebook can monetize yet another channel through video ads.