Facebook, Inc. (NASDAQ: FB) reported first-quarter financial results after markets closed Wednesday. The rivalry is something that both companies have seemingly avoided in public statements (aside from some not-so low keyshade), but FacebookCEO Mark Zuckerberg subtly touched upon it during the company's earnings call yesterday.
Meanwhile, the number of people using Facebook monthly increased 17 percent to 1.94 billion, according to the earnings report.
Much of Facebook's profits was once again driven by mobile advertising, which now represents 85 percent of all of Facebook's advertising revenue.
It is expected that the number that log in every month will have risen to 1.9 billion in the three months to the end of April, with the social network now set to close in on 2 billion in the coming weeks. The average price per ad increased 14% and total ad impressions rose 32% in Q1 2017 over the same period previous year.
Mr Zuckerbergsaid the additional staff, joining the 4,500 existing people on the community operations team, would help the company respond more quickly when content was reported.
Facebook chief operating officer Sheryl Sandberg echoed this sentiment by commenting on the post: "Keeping people safe is our top priority".
In recent months, Facebook has also faced criticism for its handling of ad metrics, fake news and troubling videos of murder and suicide shared on the platform.
NFL Draft: Jabrill Peppers Selected By The Cleveland Browns
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"It's not just about getting content off of Facebook", Zuckerberg said. Still, White said in a recent research note, "Snap has a cachet with the millennial crowd that will be hard for other platforms to garner".
Disclosure: I do not own any stocks mentioned in the article.
However, as CFO David Wehner noted last quarter, core Facebook is the primary business driver. Still, questions remain about why video of the crime remained on Facebook's platform for part of the day. And WhatsApp Status, which also has Snapchat-like features, has more than 175 million DAUs.
In 2016, revenue from mobile advertising passed sales of desktop ads for the first time, according to an April report from the Interactive Advertising Bureau.
While Google will maintain its dominance - with 33 percent of the worldwide digital ad market - Facebook is growing substantially as a digital advertiser.
Facebook now has more than 1.9 billion people, including nearly 1.3 billion people active everyday.