Analysts had expected a profit of $3.03 per share. Net income rose to $10.4 billion, or $3.61 per share, from $5.18 billion, or $1.80 per share, a year earlier. Despite scandal after scandal, the company’s perk-drunk employees seem to be weathering the stormbut there are signs of trouble. Facebook’s revenue for the second quarter of 2021 jumped 56, to 29.08 billion, while its net profit doubled to 10. Monthly active users came in at 2.90 billion, up 7% from the same period last year but missing analyst expectations of 2.92 billion and marking the slowest growth rate in at least three years, according to IBES data from Refinitiv. The tech group made a rare announcement about iPhone delays on Sunday, just over a week after it warned of significant headwinds to revenue growth due to the impact of a strong US dollar and. In the tech world, the big keep getting bigger. Facebook beat Wall Street’s quarterly sales and profit estimates but said Wednesday it expects revenue growth in the third and fourth quarters to 'decelerate significantly.' This report produced. Facebook has argued Apple’s recent requirement that iPhone app developers begin asking users’ permission to collect certain data for ads would harm its business and hurt small companies that rely on personalized advertising. Thursday, July 29th, 2021 12:15 am Facebook’s Q2 advertising revenue soared 56 to 28.5 billion year-over-year, though the company warned investors it expects a revenue slowdown beginning in Q3 the same time it will feel the full impact of Apple’s recent AppTrackingTransparency changes. The company said it expects Apple’s recent privacy change, requiring iPhone app developers to begin asking users’ permission to collect certain data for ads, to impact in the third quarter. (Reuters) -Facebook Inc said on Wednesday it expects revenue growth to 'decelerate significantly,' sending the social media giants shares down 3. The world’s largest social network’s revenue from advertising rose 56% to $28.58 billion in the second quarter ended June 30, Facebook said. The company’s total revenue, which primarily consists of ad sales, rose to $29.08 billion in the second quarter from $18.69 billion a year earlier, beating analysts’ estimates of $27.89 billion, according to IBES data from Refinitiv.įacebook, like its peers, has seen increased demand for digital ads as the pandemic drove consumers to shop largely online, forcing several businesses to create online stores and markets using social media platforms. The company beat Wall Street estimates for quarterly revenue, bolstered by increased advertising spending as businesses build their digital presence to cater to consumers spending more time and money online. (Reuters) -Facebook Inc said on Wednesday it expects revenue growth in the third and fourth quarters to “decelerate significantly,” sending the social media giant’s shares down about 5% in extended trading.
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