A quick update on how facebook is performing. Having beaten expectations on revenue, mobile advertising and growth, share price has dropped due to increased costs and expenses. These are mainly around the improvement of WhatsApp, Instagram and increasing the growth of users online, something Twitter has struggled with.
Facebook said the number of people who use it at least monthly grew 13% to 1.49 billion in the three months to the end of June. The number is equal to half of the estimated three billion people who use the internet worldwide. Of those users, it said well over half, 65%, were now accessing Facebook daily. The rise in monthly active users helped drive second quarter revenue up 39% year-on-year to $4.04bn (£2.6bn).