October 1, 2020

Facebook earns $ 10.081 million through June, almost double that of 2019



Facebook announced this Thursday that between January and June it earned 10,081 million dollars, almost double that in the same period of the previous year, with a clear increase in your business despite the crisis caused by the coronavirus pandemic.

During the first six months of the year, the world’s most used social network company billed $ 36,423 million, compared to the 31,963 million that had entered in the first half of 2019.

In the second quarter, data to which investors paid more attention, Facebook increased its turnover by 11%, to $ 18,687 million, and had a net profit of $ 5,178 million, a 98% year-on-year rise.

The results of this second quarter contrast with those of a year ago, when the company saw its profits fall 50% due to provisions to face multimillion-dollar fines from regulators.

On this occasion, investors were carefully watching the accounts to learn about the impact of the coronavirus pandemic on business and the crisis did not seem to pay too much bill to Mark Zuckerberg’s company.

In fact, confinement measures imposed on much of the world helped Facebook attract more people and made its users daily active. up 12% compared to a year ago, up to 1,790 million.

Meanwhile, the social network registered 2.7 billion monthly active users in June, an increase of 12% as well.

In total, around 3.14 billion people use at least one of the company’s main products each month, which in addition to Facebook itself, includes Instagram, WhatsApp and Messenger.

“We are proud that people can trust our services to stay connected when they can’t always be together in person,” Zuckerberg said in a statement.

The company said that in recent weeks it has begun to see signs of “normalization” in the increase in users, as containment measures have been lifted, so it expects that in the third quarter the figures will remain stable or slightly down.

Advertising continues to be the main source of income for the company and, between April and June, reported $ 18,321 million, 10% more than last year.

This, despite the fact that several large companies have decided to withdraw their ads from the platform after activists launched a campaign in mid-June to ask brands not to promote themselves on Facebook due to disinformation and hate messages that spread on that platform.

Facebook released its results at the same time as tech giants Amazon, Apple and Google and a day after the top managers of the four companies appeared in the U.S. House of Representatives amid accusations of a dominant position and monopoly on the Democratic bench and criticism of censorship from the Republicans.

The accounts exceeded market expectations and the company’s shares shot up over 7% in electronic trading after Wall Street closed.

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