The company said on Wednesday it posted a profit of $ 11.2 billion in the last three months of last year, an increase of more than 50% from the year before. Facebook (FB)The company’s revenues were up 33% to approximately $ 28 billion during the quarter, demonstrating the sustainability of its core advertising business despite the pandemic.
By combining Facebook’s various apps including Instagram, Messenger and WhatsApp, the company reported 3.3 billion monthly active users, up 14% year-on-year.
“We had a strong end to the year as people and companies continued to use our services in these challenging times,” Facebook CEO Mark Zuckerberg said in a statement.
As Facebook closed the year on a strong note, it again warned of challenges for the coming year, including “the” evolving regulatory landscape “and impending iPhone software changes that it expects will hurt its advertising efforts.
Dozens of states and the federal government sued Facebook last month, alleging that the social media giant has abused its dominance in the digital marketplace and engages in anti-competitive behavior.
Facebook also continues to struggle with the distribution of malicious content on its platform. Reports promoting violence during its opening week were circulating on Facebook, despite the crackdown since the Jan. 6 Capitol riots, a tech watchdog group found.
“Despite the negative publicity and antitrust cases, it seems that nothing can stop what is arguably the world’s most important advertising platform,” said Jesse Cohen, senior analyst at Investing.com.
