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Facebook has reported earnings today and posted its biggest quarterly profit ever.
In a post on its blog, Facebook CEO Mark Zuckerberg said that the company’s first quarter profits were $2.3 billion higher than the company expected.
He said Facebook’s net income for the year was $7.2 billion, up 16% from a year ago.
The post also revealed that Facebook’s profit margin for the first quarter was 57.5%.
The post added that the first half of the year also saw Facebook reach its highest quarterly profit in more than four years.
“Our second quarter earnings report is an important reminder of just how much growth we can expect to see in 2019,” Zuckerberg said.
We’re seeing tremendous demand for our services, particularly in areas such as online education, video and social media.”
Zuckerberg added that Facebook has a number of initiatives underway that will continue to improve the company over the coming years.
He said the company is focused on improving the way people use Facebook, including making its app more relevant, better personalized, and easier to use, and expanding the company into more new areas.
The company reported that it had revenue of $16.5 billion for the quarter, up from $15.9 billion a year earlier.
The company said that its operating income rose by 24% year-over-year, which is up from 25% a year before.
Zuckerberg said in a statement that Facebook generated an operating income of $4.4 billion in the quarter.
Zuckerburg also said that Facebook was adding more than 2 million users each day.
He also said the number of active monthly active users has reached 2.2 million.
“As we grow and continue to develop our business, we expect more growth and more opportunities for growth in the long term,” he said.