According to its latest report, the number of people using Facebook on a monthly basis had increased to 1.94 billion, topping Wall Street estimates with first-quarter revenue of $8.03 billion.

“We had a good start to 2017,” said Facebook chief executive Mark Zuckerberg.


Facebook founder and chief executive officer Mark Zuckerberg


Facebook’s profits have jumped in the first three months of the year, increasing 76 percent year-on-year to just over $3bn (£2.4bn) in the period that was boosted through higher advertising revenues, particularly on mobile.

In the first quarter, Facebook added 80 million users that gave the service a tally of 1.94 billion who frequent the service at least once a month. It was also a big boost in Facebook’s target to indulge billions more users around the globe.

According to the company, two-thirds of Facebook’s monthly active users visit Facebook every day. The number of people who visited Facebook every day was 1.28 billion, up 18 percent year over year.

Jackdaw Research Chief Analyst Jan Dawson told USA TODAY in February that Facebook was on track to hit 2 billion users later this year, a major milestone that no other Internet company has reached.

“Massive user growth year on year, and amazingly it’s accelerating despite the massive existing scale,” Dawson said at the time. “It’s on track to become the first 2 billion-user company later this year.”

At this rate of growth, Facebook will surpass 2 billion users by late June, Dawson predicted Wednesday.

On Wednesday, Mr Zuckerberg also announced it was hiring 3,000 people for its “community operations team” to review content on the site.