Facebook's revenue for the recent period climbed 35 per cent to US$29 billion
. That compared with the US$29.5 billion average analysts’ estimate, according to data compiled by Bloomberg. Monthly active users for the flagship Facebook app rose to 2.91 billion, Facebook said Monday in a statement, while analysts had predicted 2.92 billion. Fourth-quarter sales will be US$31.5 billion to US$34 billion, less than the average estimate for US$34.8 billion.Article content
Facebook has benefited over the past year from COVID-19-related lockdowns, which meant people were using the company’s many networks to keep up with loved ones and enjoy digital entertainment. With people spending more time online, advertisers shifted more of their budgets to Facebook and other social-media apps to reach customers. To help sustain that momentum, Facebook has been investing in new ways for businesses to communicate with and sell goods directly to customers.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Facebook profits rise amid Facebook Papers findingsAmid fallout from the Facebook Papers documents supporting claims that the social network has valued financial success over user safety, Facebook on Monday reported higher profit for the latest quarter.
Read more »
Facebook, alarmed by drop in teen usage, left investors in the darkWhistleblower documents paint stark picture of years\u002Dlong decline in growth for key user groups on flagship Facebook app
Read more »
Facebook, alarmed by drop in teen usage, left investors in the darkWhistleblower documents paint stark picture of years\u002Dlong decline in growth for key user groups on flagship Facebook app
Read more »
Resolved: Vikings crossed the Atlantic 1,000 years ago, almost five centuries before ColumbusNew dating technology pinpoints time by studying effect of solar storm on tree growth rings
Read more »
Bank of Canada seen raising rates as early as Q3 next year — or even soonerJust last month economists were almost evenly split on the risk of higher rates\u003B now nearly all are saying sooner rather than later
Read more »