As we learned in after hours trading last night Mark Zuckerberg is basically a God, and Facebook is so fucking profitable it makes me want to do suicide wind sprints up and down the floor of the New York Stock Exchange until someone takes pity on me and tosses me a few FB shares.
We reported here this morning that Facebook beat their highest earnings estimates by 10%. This sent after hours trading into a frenzy and Facebook shares surged by more than 9% after Zuckerberg announced that they’d beaten projections and recorded Q1 earnings of $5.38 BILLION (~$.77/share).
You didn’t click to read about Facebook‘s earnings and shares though, you clicked to learn just how goddamn much time we all spend each day using the Facebook suite of apps. I just wanted to set the stage for you a little bit, because a large part of why Facebook absolutely blew past projected earnings is because Facebook users are using the apps more than ever.
Globally, people spend more than 50 minutes a day across Facebook’s suite of apps (not including WhatsApp), the company announced during its blockbuster Q1 earnings.
The last time Facebook updated us on time-spent stats was July 2014, when it said that people in the US spent over 40 minutes on the main social network every day.
In July 2015, analysts at Needham estimated that global users spent an average of 20+ minutes just on Facebook every day.
This new stat is global and across Instagram, Messenger, and Facebook.
Facebook also said that its number of ad impressions increased 50% this quarter, and that its average price per ad increased 5%.
Here’s your (average) time spent using Facebook, according to this recent announcement:
— 50 minutes per day
— 350 minutes per week (5.83 hours)
— 1,400 minutes per month/every four weeks (23.33 hours per month, or almost a FULL DAY each month spent using Facebook)
— 16,800 minutes per year, or 280 hours per year, or 11.66 FULL DAYS each year that you spend using the group of Facebook apps.
To put that into a little more perspective, Snapchat recently reported that globally users are spending between 25 to 30 minutes each day using the app, and the last time I checked Snapchat is a company that’s valued at around $19 BILLION. Meaning that Facebook users are (on average) spending around 2x more time per day using Facebook than people are using Snapchat.
What does this data mean for you? Well, at this point we’re basically all tethered to Mark Zuckerberg and there’s not a goddamn thing we can do about it.