Facebook's profits have jumped in the first three months of the year, as the social network closes in on two billion users, according to its latest results. The number of people using Facebook each month increased to 1.94 billion, of which nearly 1.3 billion use it daily, the company said. However, chief financial officer David Wehner said ad revenue growth would come down significantly over the rest of 2017. He repeated previous warnings that Facebook was hitting a limit on the number of ads it can squeeze onto users' pages. Martin Garner, an analyst at CCS Insight, said: "It's now clear that last year's stellar results from Facebook represented the peak of online advertising growth, as Facebook had warned."

Source: The Star May 04, 2017 03:33 UTC