Tuesday, March 5, 2024

Facebook’s profits will increase in the third quarter of 2021

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Facebook has announced its balance sheet for the July-September period.

The company’s revenue in the third quarter increased by 35% to $ 29 billion compared to the same period last year.

The company had revenue of $ 21.5 billion over the same period in 2020.

Although Facebook’s revenue was lower than expected during the period, the company is expected to post $ 29.6 billion in revenue in the third quarter.

Net profit rose to $ 9.2 billion in the third quarter

The company’s net profit rose 17 percent to $ 9.2 billion in the third quarter.

At the same time, the company had a net profit of $ 7.8 billion for the July-September 2020 period.

And earnings per share on Facebook rose to $ 3.22 during the same period this year from $ 2.71 in the third quarter of 2020.

As the number of daily and monthly active users of Facebook increased during this period, the number of daily active users increased by 6 percent year-on-year to 1.93 billion.

Meanwhile, the number of monthly active users of the social website increased by 6 percent to 2.91 billion.

The company said its revenue for the fourth quarter of this year is expected to be in the range of $ 31.5 billion to $ 34 billion.

In this case, analysts expect the company’s revenue to reach about $ 34.8 billion in the last quarter.

In a report on Facebook, it said there was uncertainty in the fourth quarter in light of the reasons behind Apple’s iOS 14 changes, macroeconomics and corona virus-related factors.

read more:From next week, Facebook plans to change its name

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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