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Facebook beats estimates to record $9.32B revenue on the back of increasing ad sales

Facebook is on a roll and the company’s Q2 earnings call is ample proof of that. Revenue rose to $9.32 billion, buoyed by a renewed surge in sales of its video ads which grew faster than that of its biggest rival, Google.

Facebook’s Q2 revenue figures of $9.32 billion were also higher than the expected figures of $9.2 billion though the growth will seem far more impressive when compared to the corresponding figures of the past quarter or for the same period a year ago.

For instance, while the revenue for just the preceding quarter stood at $8.03 billion, the same had been $6.43 billion for the year ago period. That makes for a 44.7 percent jump in revenue year-over-year. The social media giant, however, had already let its investors know they are running out of ad space in its news feed, which means it might have already reached a plateau so far as revenue growth is concerned. That’s why they have rolled out ads in Messenger as well.

That said, it still has been an impressive growth given that the rate at which its ad sales growth has been twice that of Google. Needless to say, the Alphabet owned subsidiary happens to be Facebook’s biggest competitor in the online ad segment.

One of Facebook’s most recent endeavor that is already reaping rich dividends is video along with increasing focus on mobile. No wonder, revenue from mobile ads alone accounted for $8 billion. Its Monthly Actively User count stands at 2.01 billion, easily making Facebook the biggest social media platform on the planet right now.

In fact, it’s an all-round growth story for Facebook at the moment given that its subsidiaries too continue to flourish exponentially. Messenger already boasts of a monthly user base of 1.2 billion. Instagram too is racing ahead towards the billion figure mark, having already grown to a 700 million plus user base.

Facebook’s other acquisition; WhatsApp too is making waves given that it too boasts of a 1.3 billion monthly active user count and a billion plus daily active users. It is over 55 billion messages that are exchanged on the platform.

Meanwhile, the company said their focus on videos will continue in the foreseeable future. In fact, the social media firm stated they have bog plans in the video segment and are in the process of launching both short and long form videos on its platform. Then programs that users will see in the form of episodes is also in the making.