Facebook tops estimates with Q2 revenue of $29.1B

Wednesday, 28. July 2021 22:06

Facebook said on Wednesday its revenue in the second quarter of 2021 stood at $29.1 billion, surging 56% compared to the same quarter in 2020 and beating estimates.

Net income soared 101% year on year to $10.4 billion, or $3.61 per share. The social network's daily active users (DAUs) climbed 7% to 1.91 billion on average for June 2021 and monthly active users (MAUs) also rose by 7% to 2.90 billion at the end of June.

"We had a strong quarter as we continue to help businesses grow and people stay connected," CEO Mark Zuckerberg stated. "I'm excited to see our major initiatives around creators and community, commerce, and building the next computing platform coming together to start to bring the vision of the metaverse to life," he added.

Facebook shares dropped 4.37% in after-hours trading despite better than expected earnings.

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Breaking the News / NP