Facebook's monthly and daily active users both increased by 8% to 2.41 billion and 1.59 billion respectively in Q2 2019. Revenue increased 28% year-on-year to $16.6 billion this quarter. Mobile ads made up 94% of the company's ad revenue. 2.1 billion people and 2.7 billion people use one of its services — Facebook, Instagram, WhatsApp, or Messenger — every day and every month respectively. Talking about privacy issues in a call with investors, Zuckerberg reiterated the need for a regulatory framework, saying that "my broader concern is that if that doesn't get put in place, then frustration with the industry I think will continue to grow". He says regulation can be a mix of laws passed, structural rules imposed like with this FTC settlement, self regulation (like around content and speech in the United States). WhatsApp Payments Zuckerberg said that regulatory approval was causing the delay in launch of WhatsApp Payments in India. "The test went better than we even expected" for a product which needs high network effects to be a success. Zuckerberg did not respond to what lessons the company learnt from the beta test in India for other countries. Impact of FTC fine The FTC fine will mean process changes and compliance work, and will change how Facebook runs its business, and how quickly its products come to the market. The company has got a a new chief privacy officer, Michel Protti. Others at Facebook are going to supplement his work, and external hires will be brought in…
