Facebook has become the most used tech product of the world as at the end of the month of June reports from the company mentioned that the number of people who are using Facebook for at least once in a month is almost 1.5 billion. This huge number is even more than Microsoft which is another well-known technology product and now Facebook is the most used tech product in the world.
Facebook has been capitalizing on all the data it has on its users and it has made a number of features as well. A reason for the increase in traffic is also that Facebook is engaged in the selling of ads and the reports of second quarter of this year showed that the ads sales of Facebook has reached $3.8 billion. This is an increase of almost 43 percent if compared with the last year. The sales from mobile has given a revenue of $2.9 billion which has grown by 62 percent. Interestingly, three years ago, there were no sales through the phones.
According to the CEO of Facebook Mark Zuckerberg, the company has a clear mission and everyone has been following that mission and to make it successful, features of the Facebook are cooperating as well and that is the reason why the company is achieving success. He told that Facebook has been following the basic formula of allowing people to communicate with their friends and family members.
It has a become a most common source with some innovative features to share their feelings with everyone which are making Facebook appealing to everyone and number of users has been therefore increasing day by day. No only new users, but also there were some people who had their accounts on Facebook but they did not have interest in using them, those people have also moved back to their accounts which is a big success for Facebook.
Profit of the company has been increasing and only at the end of the second quarter of the year, profit has reached up to $1.4 billion which makes the investors confident about the company and its massive user base and the platform’s messaging tools.
Now, a big challenge is in front of Facebook is to maintain the profits as with the increase in performance, the expectations from the company also increase and it will not be simple for Facebook to keep such performance and improve the profits of the company. But Facebook executives have also warned that revenue growth will probably continue to decline, and spending on new projects will increase.