Socila media giant Facebook reported a $1.5 billion first-quarter profit in 2016, or 52 cents per share, nearly triple of last year's profits of $512 million in the same period.
"We had a great start to the year,"said Facebook founder and CEO Mark Zuckerberg in a statement on Wednesday.
"We are focused on our 10 year roadmap to give everyone in the world the power to share anything they want with anyone," he added.
The company also announced an increase of 52 percent in revenues in the first three months of 2016 to $5.38 billion and said that 1.65 billion people use Facebook at least once a month, up 15 percent, EFE news reported.
Overall, Facebook recorded 1.09 billion active users in March, an increase of 16 percent compared to the same month in 2015.
Most new Facebook users in the last two years are from Asia, Africa and South America, and two-thirds are outside the US, Canada and Europe.
--IANS
ksk
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app