Facebook User Growth Impresses, Now Most Used Tech Product in the World

Consumers check their Facebook (FB) accounts a lot. The number of users who check their Facebook page at least once a month grew to 1.49 billion from 1.44 billion last quarter. Of those users, 968 million check their account every day and spend an average of 46 minutes on the site. Those metrics include all of Facebook's platforms including Instagram and Messenger. Facebook's rate of user growth picked up in the quarter, which is in contrast to Twitter (TWTR). As for the numbers, the social network reported revenue jumped 19% to $4.04 billion in the second quarter, up from $2.91 billion a year ago. But that gain was outpaced by spending, which rose 82% from the same quarter a year ago. A growing number of advertisers are turning to Facebook to reach digital consumers. Mobile advertising revenue was 76% of advertising revenue in the quarter. Facebook shares were volatile in extended trading after its earnings were released but have been trading near all time highs.