The company said on Wednesday it had made a profit of $ 11.2 billion in the last three months of last year, an increase of more than 50% from the previous year. Facebook (FB)Revenue rose 33% during the quarter to about $ 28 billion, demonstrating the sustainability of its core advertising industry despite the pandemic.
By combining various Facebook apps, including Instagram, Messenger and WhatsApp, the company reported 3.3 billion monthly active users, an increase of 14% year-on-year.
“We ended the year strong as people and businesses continued to use our services during this challenging time,” Facebook CEO Mark Zuckerberg said in a statement.
While Facebook ended the year on a strong note, it once again warned of challenges for the coming year, including ‘the‘ evolving regulatory landscape ’as well as looming iPhone software changes he expects will hurt his advertising business.
Dozens of states and the federal government sued Facebook last month, claiming that the social media giant abused its dominance in the digital market and was competing.
Facebook also continues to struggle with the distribution of harmful content on its platform. Reports promoting violence during the inauguration week have been circulating on Facebook despite the fact that since the riots in the Capitol on January 6, a technological watchdog group has found.
“Despite the negative publicity and antitrust issues, there seems to be nothing that can stop the world’s most important advertising platform,” said Jesse Cohen, senior analyst at Investing.com.
