Facebook profit leaps 186% from a year ago to $2 billionJuly 28, 2016 - 12:46 AMT PanARMENIAN.Net - Facebook on Wednesday, July 27 reported a huge quarterly profit jump fueled by strong growth in revenues and its global user base, powering shares higher for the top social network, AFP reports. Net profit leapt 186 percent from a year ago to $2.05 billion in the second quarter, as Facebook blew past most analyst forecasts. With its global base of monthly active users growing to 1.7 billion, Facebook saw a 59 percent jump in total revenues to $6.4 billion, mostly from online advertising. Facebook shares jumped 6.3 percent in after-hours trade on the stronger-than-expected results. "Our business is growing at a healthy rate," Facebook founder and chief executive Mark Zuckerberg told a conference call, noting that the company has strategic plans for the next five and 10 years. "Our results show our progress in our goal of making the world more open and connected." Zuckerberg said a key part of Facebook's strategy was using video, which he said was "at the heart of all our apps and services." Facebook has been dominating the social media space as well as related online advertising as it seeks to diversify into areas such as messaging, virtual reality and other fields. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |