Facebook reported monthly active users (MAUs) up 7.3% at 2.9 billion for the quarter ended in June. The figure was in line with expectations but reflected slowing growth, knocking shares down 4% in late trading.
The social media giant said total revenue of $29.08 billion rose 56%. Net profit jumped 101% to $10.39 billion, or $3.61 a share. Both figures repped a Wall Street beat on the wings of higher digital ad revenue that has marked tech sector earnings this week and last — but it was less pronounced at Facebook than at others like Twitter, Snap, Google and even Spotify.
“We had a strong quarter as we continue to help businesses grow and people stay connected,” said CEO Mark Zuckerberg. “I’m excited to see our major initiatives around creators and community, commerce, and building the next computing platform coming together to start to bring the vision of the metaverse to life.”
Daily active users, or DAUs, were...
The social media giant said total revenue of $29.08 billion rose 56%. Net profit jumped 101% to $10.39 billion, or $3.61 a share. Both figures repped a Wall Street beat on the wings of higher digital ad revenue that has marked tech sector earnings this week and last — but it was less pronounced at Facebook than at others like Twitter, Snap, Google and even Spotify.
“We had a strong quarter as we continue to help businesses grow and people stay connected,” said CEO Mark Zuckerberg. “I’m excited to see our major initiatives around creators and community, commerce, and building the next computing platform coming together to start to bring the vision of the metaverse to life.”
Daily active users, or DAUs, were...
- 7/28/2021
- by Jill Goldsmith
- Deadline Film + TV
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