Unstoppable Facebook close to magic 2bn mark

02 May 2017 - 09:17 By ©The Daily Telegraph
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HOUSE CALL: Facebook CEO Mark Zuckerberg at the home of Dan and Lisa Moore of Newton Falls, Ohio. Family members say the dinner was arranged after Zuckerberg saw them on television and wanted to meet them ’to understand why we voted for Trump’.
HOUSE CALL: Facebook CEO Mark Zuckerberg at the home of Dan and Lisa Moore of Newton Falls, Ohio. Family members say the dinner was arranged after Zuckerberg saw them on television and wanted to meet them ’to understand why we voted for Trump’.
Image: MARK ZUCKERBERG/FACEBOOK

Facebook is on the verge of reaching 2billion members mark, with the social media giant closing in on a milestone that will move it into a select group of global companies.

The company is expected to report a blockbuster set of results this week, with revenues rising 45%.

It is expected to report that the number of people who log in every month will have risen to 1.9billion in the three months to the end of April, with the social network now set to close in on 2billion in the coming weeks. Only a handful of multinationals around the world, including Unilever and Procter & Gamble, can boast more customers.

Facebook has defied many expectations in recent years by continuing to find new users despite its size, with growth actually accelerating in recent quarters.

However, analysts believe the company will have to start running out of steam eventually.

"We expect [monthly users] to grow 14% in Q1 [down from 17%] as it decelerates due to the law of [really] large numbers," analysts at RBC Capital Markets said.

Consensus forecasts are for Facebook to report revenues of $7.8-billion (R103-billion) and profits of $3.3-billion, up 72% on a year ago, when it unveils first- quarter results tomorrow.

Apple, which reports quarterly results today, is set to unveil a second consecutive quarter of growth after the iPhone maker's unusual decline in sales last year.

Analysts expect revenues to have climbed 5% to $53-billion in the first three months of 2017, Apple's second fiscal quarter.

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