Facebook achieved quarterly revenue that exceeded the expectations of analysts, as the company took advantage of its tools in the field of digital advertising to take advantage of the growing use of the Internet in the midst of the Corona pandemic.
According to Reuters, revenue grew 11 percent, the slowest pace since the company launched the IPO, but it exceeded the expectations of analysts who said it would drop 3 percent, according to E data. PES by Refinitiv.
Advertising sales, which make up most of Facebook’s revenue, increased ten percent to $ 18.3 billion in the second quarter of the year.
The number of active monthly users increased to 2.7 billion in the second quarter, while it was expected to 2.6 billion.
Investors were preparing for hardships in the second quarter, the first period in which the full effect of the virus containment closures appeared.
In April, Facebook said it was seeing signs of stabilization in sales for the first three weeks of the quarter after a sharp decline in March.
Total costs and expenditures rose 4 percent to $ 12.7 billion in the second quarter, while analysts expected 12.5 billion.
Net profit was $ 5.2 billion, or $ 1.80 a share, in the three months to June 30. Analysts had expected $ 1.39 a share.
Net profit was $ 2.6 billion a year ago, but that involved a settlement of two billion dollars in a privacy protection case with the Federal Trade Commission.
(Amazon fun of knowledge)
