Facebook Profits Jump 53% Amid Growing Surveillance

[ad_1]

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 previous year. Facebook (FB)The company’s revenue rose 33% to about $ 28 billion in the quarter, demonstrating the sustainability of its core advertising business despite the pandemic.

Combining Facebook’s various apps, including Instagram, Messenger, and WhatsApp, the company reported 3.3 billion monthly active users, a 14% year-over-year increase.

“We had a strong end to the year as individuals and businesses continued to use our services during these difficult times,” Facebook CEO Mark Zuckerberg said in a statement.

While Facebook ended the year on a high note, it once again warned of challenges for the year ahead, including “the ‘evolving regulatory landscape” as well as the impending changes in iPhone software that , according to him, will harm his advertising activity.

Dozens of states and the federal government sued Facebook last month, alleging the social media giant abused its dominance in the digital marketplace and engaged in anti-competitive behavior.

Facebook also continues to fight against the spread of harmful content on its platform. Messages promoting violence during inauguration week have circulated on Facebook despite its crackdown since the January 6 riots on Capitol Hill, a tech watch group has found.

“Despite the negative publicity and the antitrust affairs, it seems like nothing can stop what is arguably the world’s most important advertising platform,” said Jesse Cohen, senior analyst at Investing.com.

[ad_2]

Source link