Facebook reports 33% sales growth and 53% profit growth.
On Wednesday Facebook posted increasing revenues and profits due to higher advertisement sales, but warned of the possible "headwind" of regulatory and technological changes in the future.
Revenues from the Social Network rose to $28 billion in the fourth quarter, up 33% from Wall Street's prediction a year ago. Profits amounted to 11.2 billion dollars, up 53%. 3d drawing easy
And as it tackled several scandals, the Facebook business grew. The prevalence of misinformation over its platform and the influence of these misconceptions on user sources have been criticized, while regulators are increasingly worried about its outsize control.
The Federal Trade Commission and more than 40 states accused Facebook in December of purchasing its competitors for illegal squash. This month, Facebook declared the ban on former President Donald J. Trump's account, citing his incitement to abuse. Conservatives and others.
The business also attracted new users. Nevertheless, In the 4th quarter, there were more than 3.3 billion daily monthly user apps from Facebook, which include Instagram, WhatsApp, and Messenger. The company said that approximately 2,6 billion of them used a regular Facebook app.
Facebook's company boomed as many more people purchased goods during the pandemic online after its initial advertisement decline in March, managers said. This pattern was expected to continue, the company said.
"Nothing seems to hinder the world's most important advertisement site, despite negative advertising and antitrust proceedings," said Investing.com senior analyst Jesse Cohen.
Facebook said future legislation, in particular in Europe, was one area of uncertainty. In Ireland, the organization closely tracks decisions that could forbid the transfer of data on its users in the European Union to the United States. Managers also shared their concern about improvements made by Apple to its mobile operating system, iOS, to monitor applications that would hamper some of the ad targeting tools of Facebook.
Facebook has said that it no longer recommends users to the political groups and works on ways to minimize political content in the news feeds of users. The acts were focused on users' feedback who said that they did not want to have their whole experience on Facebook battling politics, the company said.
Mark Zuckerberg, chief executive officer of Facebook, was optimistic in a tweet. Learning alphabet for kids
"We had a good year-end as our services were used by people and companies in these times of difficulty," he said. "Our road map for 2021 excites me as we find new and practical ways of generating economic opportunities, building community, and helping people just have fun."
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