Facebook shared its first quarter 2019 earnings report today, announcing an increase in monthly active users and its plans for data security within the next few years.
As of March 31, 2019, Facebook has 2.38 billion monthly active users, an increase of eight percent year-over-year. Its daily active users as for March 2019 is 1.56 billion.
Now more than 2.1 billion people use Facebook, Instagram, WhatsApp, or Messenger every day on average. Around 2.7 billion people use at least one of Facebook’s family of apps each month.
According to CEO Mark Zuckerberg, the company will focus on data security. The company will explore ways to give its users a private social platform and to better store sensitive data in countries where it is easy to access.
Zuckerberg estimates that it will take the company five years or longer to improve data security. Within those five or so years, he expects to spend at least one year consulting security experts. This, he reasoned, will allow the company to get data security right before implementing any changes. This approach is antithetical to the silicon valley creed “move fast and break things.” After the tumultuous two years Facebook faced with data security, Zuckerberg isn’t taking any more chances.
Within the next few years, in addition to security, Facebook will also focus on growing Stories advertising. To achieve this goal, the company will make the Stories ad buying process easy and convenient.
While Facebook aims to grow Stories advertising, because of its focus on data security, Messenger advertising is demoted from its priority list.
Facebook’s earnings report is available on its investors website. The company will also post the transcription of the earnings call on the site today.