Facebook Added Another 76 Million Users in the First Quarter of This Year

Advertising revenue grew 51 percent

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Facebook continues to get closer to the 2 billion user milestone, reporting 1.94 billion users in the first three months of the year.

According to the company’s quarterly earnings released today, the company reported monthly user growth of 17 percent year over year. Total daily active users also increased to 1.28 billion, up 18 percent over the same period in 2016.

The company also reported better-than-expected financial results with total revenue for the first quarter hitting $8.03 billion, up 49 percent from $5.39 billion in the first quarter of 2016. Advertising revenue grew 51 percent year over year to $7.86 billion, with mobile now accounting for 85 percent of total ad revenue. (During the first quarter of 2016, mobile ad revenue comprised 82 percent of the total.)

“We had a good start to 2017,” said Mark Zuckerberg, Facebook founder and CEO, in a statement. “We’re continuing to build tools to support a strong global community.”

While only 3 million of Facebook’s 76 million new monthly users came from the U.S. and Canada, 43 million people from the Asia-Pacific region joined the social network. Another 5 million joined in Europe, with the “rest of the world” accounting for the remainder of the company’s user growth.

Average advertising revenue per user dipped worldwide from the fourth quarter of 2016, $4.73 to $4.14.

The company also saw growth in the size of its staff, with 18,770 employees as of March 31, a 38 percent increase in a year. Earlier on Wednesday, Zuckerberg announced the company has plans to hire another 3,000 employees to monitor reports of violent videos on the platform.