March 29, 2023

Dubai Week

Complete Dubai News World

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

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

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

See also  After the last increase, the prices and specifications of the 2022 Honda family in Egypt