Facebook first-quarter sales and users soar
Larger advertisers have shifted more of their marketing budgets to social media sites
29 April 2021 - 00:04
Facebook’s first-quarter sales rose 48%, surging past analysts’ estimates thanks to strong demand from retailers and other advertisers seeking to grab attention from the social network’s billions of users.
Revenue climbed to $26.2bn, the company said on Wednesday in a statement. That dwarfed the $23.7bn average estimate of analysts, according to data compiled by Bloomberg. Facebook reported 2.85-billion monthly active users, a rise of 10%. Analysts projected 2.83-billion. Shares jumped about 5.5% in late trading...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.