Facebook scored $8.03 billion in revenue from 1.94 billion users, up from 1.86 billion users last quarter. Facebook's revenue growth marked an increase of 49 per cent year-over-year.
The user base of the social networking giant, despite the numerous controversies, showed a growth rate of 4.3 per cent compared to 3.91 per cent last quarter.
"We had a good start to 2017. We're continuing to build tools to support a strong global community,"said Mark Zuckerberg, CEO Facebook, in a statement on Wednesday.
Mobile advertising revenue represented approximately 85 per cent of advertising revenue for the first quarter of 2017, up from approximately 82 per cent of advertising revenue in the first quarter of 2016, Facebook said.
Post US presidential elections, Facebook remained entangled in controversies over fake news and video violence.
To monitor content and remove violent videos, Facebook will be hiring 3,000 additional employees over the next year. It has also rolled out number of tools to battle against fake news and hate speech.
Facebook's live videos and 'Story' feature -- that was in all probability imitated from Snapchat -- attracted a lot of users.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.