Chat with Softimpact
+961 1 890 888
+961 1 890 999
Home
Profile
Services
WEB DESIGN & DEVELOPMENT
TAILOR MADE SOLUTIONS
SOCIAL MEDIA MARKETING
Mobile / TV Applications
THE WALL 360 CMS
WEB SERVICES
Cubix ERP/CRM
Portfolio
Recent
Websites
Mobile / TV Applications
Intranet Applications
Social Media
Branding
Facebook Applications
Highlights
Blogs
Clients
Quotation
Contact
FAQ
s
Careers
Menu
Facebook doubles profit, but warns of cooling growth
July 30, 2021
Facebook posted profits of more than $10 billion in the second quarter of 2021, doubling the result from the same period last year. Monthly active users, including Instagram and WhatsApp, were 3.51 billion as of June 30, 2021, almost half of the world’s population.
Profit jumped to US$10.4 billion (S$14.1 billion) on revenue of US$29 billion, a 56 per cent increase from last year, mainly from a jump in ad revenues, Facebook said in its second-quarter report.
The number of people using the social network monthly climbed to 2.9 billion, a year-on-year gain of 7 per cent. And some 3.5 billion people used at least one of the company's apps, including Instagram, WhatsApp and Messenger.
"We had a strong quarter as we continue to help businesses grow and people stay connected," Facebook chief executive Mark Zuckerberg said in an earnings release.
However, Facebook shares slipped some 4 per cent as the tech giant warned that growth was expected to slow due to regulatory actions and a tweak to the Apple iPhone operating software that could hurt its ad targeting.
The move by Apple early this year has sparked a rift with Facebook and other tech rivals, and could have major implications for data privacy and the mobile ecosystem.
Apple began requiring apps to tell users of its mobile devices what tracking information they want to collect and get permission to do so.
Opting out of being tracked makes it harder for companies such as Facebook to target the ads on which they depend for revenue.
"This has been very challenging for advertisers and we're working with them to help navigate these changes," Facebook chief financial officer David Wehner said on an earnings call.
The results come with large tech firms facing heightened scrutiny from antitrust enforcers in the United States and elsewhere for their dominance.
Facebook won dismissal of a case brought in a US federal court last year, but the authorities are seeking to refile the case, which could potentially lead to a break-up of the social media giant.
Facebook is on track to bring in more than US$100 billion in annual ad revenue for the first time, according to industry tracker eMarketer.
Google is the top digital ad publisher with nearly 29 per cent of the market, with Facebook having the second largest share, just shy of 24 per cent.
Back To Blogs
POPULAR ARTICLES
March 27, 2025
The Rising Impact of In-App Purchases on Mobile Apps and Consumer Spending
April 11, 2025
The AI-Powered Sea Bridge: A Pressing Need or Just an Idea?
May 26, 2025
Google Introduces Veo and Imagen 3: Next-Gen AI Tools for Video and Image Creation
LET’S START A NEW PROJECT TOGETHER!
2 hrs ago
Top AI Coding Tools Engineers Are Using in 2025
The software development world in 2025 is being transformed by powerful AI coding tools that help engineers code more efficiently, intelligently, and with fewer mistakes. Based on recent industry surveys and in-depth reviews, several standout...
Read More
June 25, 2025
Urgent Warning from Facebook to All Users About "Password Theft" Risks
Meta has issued an urgent alert to its billions of Facebook users, urging them to adopt a new, more secure login method to protect their accounts. According to Facebook officials, the new system is significantly safer than traditional passwords,...
Read More
June 19, 2025
Father’s Day Emerging as a Major E-commerce Event in the Middle East
The volume of online searches related to Fathers Day including qtes, greetings, cards, and gift ideas has skyrocketed over 30-fold this week since June 16.
Read More
June 12, 2025
This Week’s Must-Know Social Media Updates
This week is packed with social media changes and tool launches, especially following major announcements from TikToks recent World Event. Heres a roundup of the most important updates and how they can support your marketing goals:
Read More
May 26, 2025
Google Introduces Veo and Imagen 3: Next-Gen AI Tools for Video and Image Creation
At the recent I/O 2024 conference, Google unveiled two major advancements in generative AI: Veo and Imagen 3. Veo is a cutting-edge text-to-video tool, while Imagen 3 is the latest evolution of Google's powerful text-to-image model.
Read More
Load More
Visit Our News