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| The Facebook marketplace now has 1 billion users |
With one billion users in the Facebook marketplace, Facebook's efforts to promote e-commerce jobs are starting to pay off.
The company announced that there are over 1 million stores in the Facebook marketplace and that over 250 million users interact with these stores every month.
The company generated $ 26.17 billion in revenue for the quarter, up 48% over the same period last year.
Facebook net income increased 94% from $ 4.9 billion a year ago to $ 9.5 billion.
Facebook attributed the large revenue increase to a 30% year-on-year increase in average ad rates and a 12% increase in the number of ads shown.
In the first three months of 2020, Facebook ad revenue grew more than 45% to $ 25.4 billion, nearly seven times Twitter's annual revenue.
Facebook estimates that ad revenue will continue to grow through the end of 2020, but it is expected to slow in the second half of the year.
Zuckerberg said that during the coronavirus pandemic, e-commerce has become increasingly important, which has also allowed the company to find new ways to utilize services.
He said: The company allows business owners to buy open Facebook ads directly on WhatsApp through the WhatsApp Business app, and Instagram plans to allow influencers to open their own businesses through the app.
Zuckerberg added: We are investing in the future of companies, but there is still a long way to go to create a fully functional trading platform for our services.
It should be noted that Facebook's other revenue increased by 146% to $ 732 million. This category represents sales of Facebook devices, including Oculus and Portal devices.
The company is working hard to improve its advertising technology so that it can offer better ad targeting even with limited access to data.
These improvements are described as a rebuilding of the company's technology with the goal of maintaining and improving long-term performance.
User definition:
- Daily active Facebook users: 1.88 billion, up 8% over the previous year.
- Monthly active Facebook users: 2.85 billion, a 10% increase over the previous year.
- Daily active user groups of Facebook apps: 2.72 billion, a 15% year-on-year increase.
- Monthly active Facebook app group users: 3.45 billion users, a year-on-year increase of 15%.