10.11.2020 | Facebook revenue grows by 22%, Uncertainty lies ahead
As per the news from CNN Business – The pandemic has been a boon for Facebook, however the company said there will be uncertainties ahead of that.
On last Thursday, Facebook announced that their daily and monthly active users in US and Canada has been falling in this last quarter of the year compared to the previous 3 months and they are expecting this to continue. However, globally, their revenue has gone up for 22% ($21.47 billion) compared to last year and the Net income has increased 29% (7.85 billion) over the years.
In the quarter ending in September, they had 2.74 billion monthly active users a 12% increment compare to the previous year. When all of Facebook various apps combined – Instagram, Messenger and WhatsApp, the company reported an increment of 14% (3.21 billion users) were active.
However, as the stay-at-home orders and regulations came to relax over-time, this active users will drop and they are expecting that maybe slightly lower than the previous year in the future.