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Facebook is now worth around $300bn

Record One Billion People Check Facebook Daily

WT24 Desk

For the first time, one billion people now check their Facebook news feed every day, Sky News reports.  The social network now has more than 1.5 billion registered users for the first time ever – around half of the world’s internet-connected population.  The figures were revealed in the company’s third-quarter earnings report on Wednesday night, which beat Wall Street predictions.

The good news saw Facebook’s share price soar, helping it break yet another company record – reaching a $300bn (£195m) valuation for the first time. “We had a good quarter and got a lot done,” said founder Mark Zuckerberg, “we’re focused on innovating and investing for the long term to serve our community and connect the entire world.” The figures in its presentation were eye-watering – eight billion videos are viewed on the site each day, 900 million people use its WhatsApp service each month, while 45 million businesses use its Pages feature.

Earnings stood at $896m (£582m) – they could have been even higher but the firm is spending hundreds of millions on projects including artificial intelligence, virtual reality, and bringing the internet to emerging markets. Most of Facebook’s new users come from outside Europe and North America. Facebook said ads on mobile devices accounted for 78% of advertising revenue, up from 66% a year ago.

Chief operating officer Sheryl Sandberg said: “We think we have the best mobile ad product in the market. We’re able to target, we’re able to measure. We have broad scale.”

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