Facebook is the world’s biggest social network. It has been quite some time since it passed the one billion total user milestone, but the social network is certainly not stopping there. During its announcement of quarterly fiscal results, the company revealed that Facebook now has, on average, 699 million daily users from around the globe. Active monthly users now stand at 1.15 billion.
The fiscal results were for the second quarter which ended on June 30th. The company pulled in $1.81 billion in total revenues, beating Wall Street Estimates. Compared to the same quarter last year, revenues have increased by 53 percent, this time last year they stood at $1.18 billion. In Q2, 2012 the company reported a net loss of $157 million, whereas this yer it has posted a net income of $333 million. 88 percent of the total revenue was accounted for by revenue from advertising, which brought in $1.60 billion, resulting in a 61 percent increase as compared to the same time last year. The company also revealed that after Video on Instagram was launched, five million videos were uploaded in the first 24 hours alone. CEO Mark Zuckerberg said that these results provide them with a “solid foundation for the future.”