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30.10.2020

Facebook prepares itself for a difficult 2021

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The firm expresses some caution about the future

Stocks impacted: Facebook (FB)

Facebook reported financial results for the quarter ended September 30. The company reported strong rises in advertising sales and some caution about the future, saying that pandemic-related uncertainty could make for a difficult 2021. Facebook’s total revenue rose 22% to $21.47 billion from $17.65 billion in the third quarter ended September 30, beating analysts’ estimates of a 12% rise. The firm continued to expand its user base, with monthly active users rising to 2.74 billion. Total expenses increased 28% to $13.43 billion, with costs continuing to grow as Facebook tries to build out its non-ad businesses. Net income came in at $7.85 billion, or $2.71 per share, compared with $6.09 billion, or $2.12 per share, a year earlier.

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