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Facebook continues to collect users and lots of cash

In news that will surprise few, it turns out Facebook is getting even bigger and quite a lot richer.

Giant steps

Facebook's Q1 2016 earnings report revealed that the social network now has 1.65 billion monthly users.

Over this period Facebook netted a tidy US$5.38 billion in revenue and US$0.77 earnings per share. 

This was above estimates and sent Facebook's share price up 8% following the announcement.

Social behemoth

In three months Facebook has increased in size by almost 4%, outpacing last quarter's 2.58% growth. Facebook is now five times larger than Twitter.

There are now 1.09 billion daily active users on Facebook, up from 1.04 last quarter. This figure has increased faster than monthly active users, meaning more people are logging in to Facebook, more often.

Mobile mover

Facebookers love to get out an about, dancing between Facebook's ever-increasing family of apps. 

Messenger now holds sway with 900 million users, while Instagram chimes in with 400 million.

The average user now spends 50 minutes per day across these three apps.

While Facebook has been making big inroads with 360 video and its soon-to-be released Oculus Rift headset, the company said it did not expect to see any revenue from its Virtual Reality efforts in 2016.
 

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