$ 5 billion Facebook profits during the Corona pandemic


The quarterly revenue announced by Facebook on Thursday exceeded analyst expectations, as the company took advantage of its digital advertising tools to take advantage of the growing use of the Internet in the midst of the Corona pandemic.
Revenue has grown 11%, the slowest pace since the company went public, but it exceeded analysts’ forecasts that it would drop 3%, according to EBS data from Refinitiv.Advertising sales, which make up most of Facebook’s revenue, increased 10% to $ 18.3 billion in the second quarter of the year.

The number of active users per month increased to 2.7 billion in the second quarter, while it was expected 2.6 billion.

Investors were bracing for difficulties in the second quarter, the first period in which the full effect of the closures of the virus was shown. And Facebook said last April that it was seeing signs of stability in sales for the first three weeks of the quarter after a sharp decline in March.

Total costs and expenditures rose 4% to $ 12.7 billion in the second quarter, while analysts expected 12.5 billion.

Net profit was $ 5.2 billion, or $ 1.80 a share, in the three months to June 30, compared to analysts expecting to be $ 1.39 a share.

Net profit was $ 2.6 billion a year ago, but that involved a settlement of two billion dollars in a privacy protection case with the Federal Trade Commission.


Please enter your comment!
Please enter your name here