Facebook, Inc. (NASDAQ: FB) shares took a dip on Tuesday despite the social media giant announcing a pivotal milestone. The social network has now broken 2 billion monthly active users (MAU), making it the first ever to reach this mark.
In other terms this is about one quarter of the entire world’s population and more than half of the people on the internet.
This number absolutely blows any other social media site out of the water. The next closest would be Google’s YouTube which recently reported that it has approximately 1.5 billion logged-in users in a month.
Separately, Facebook’s Instagram platform has 700 million users and Twitter only boasts about 328 million users.
According to Bloomberg Tech:
Facebook is reaching the milestone just a few days after co-founder and Chief Executive Officer Mark Zuckerberg declared that simply adding more people to the social network isn’t enough. He outlined a new mission for the Menlo Park, California-based company, centered on helping people build strong bonds, in response to isolationist and nationalist movements around the world.
Excluding Tuesday’s move, Facebook has outperformed the broad markets with the stock up 33.5% year to date. Over the past 52-weeks the stock is actually up closer to 37%.
Shares of Facebook were last trading down 1.5% at $151.26, with a consensus analyst price target of $169.30 and a 52-week range of $110.55 to $156.50.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
