staff The companys 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. Federal Trade Commission which has until Aug. Facebook warns growth to slow significantly, mandates vaccine for U.S. The company continues to face pressure from global lawmakers and regulators, including from the U.S. Analysts had expected a profit of US$3.03? per share. Such a remark from President Novk was made during the Sendai Framework Agreement conference, established by the United Nations to increase resilience. Net income rose to US$10.4 billion, or US$3.61 per share, from US$5.18 billion, or US$1.80 per share, a year earlier. “In the third and fourth quarters of 2021, we expect year-over-year total revenue growth rates to decelerate significantly on a sequential basis as we lap periods of increasingly strong growth,” Chief Financial Officer Dave Wehner said in the earnings release. Its revenue from advertising rose 56 per cent to US$28.58 billion in the second quarter ended June 30, Facebook said.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’s total revenue, which primarily consists of ad sales, rose to US$29.08 billion in the second quarter from US$18.69 billion a year earlier, beating analysts’ estimates of US$27.89 billion, according to IBES data from Refinitiv.
“Everyone will be watching any developments to their ad targeting system closely to see how that plays out given its huge role in helping Facebook monetise its apps,” said Tom Johnson, WPP Mindshare’s chief digital officer. 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. Facebook said on Wednesday it expects revenue growth in the third and fourth quarters to 'decelerate significantly,' sending the social media giants shares down about 5 per cent in extended trading. Article contentįacebook said it expects Apple’s recent privacy change, which requires iPhone app developers to begin asking users’ permission to collect certain data for ads, to impact its ability to target ads and therefore ad revenue in the third quarter. This advertisement has not loaded yet, but your article continues below.
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