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Facebook Q2 numbers top expectations

29 July 2021 By GO Markets

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The world’s sixth-largest company, Facebook, reported its latest financial results for the second quarter after the closing bell on Wednesday – beating Wall Street expectations.

The company reported total revenue of $29.08 billion (56% increase year-on-year) in the previous quarter, beating analyst forecasts of $27.89 billion. Earnings per share were at $3.61 per share (101% increase year-on-year) vs. $3.03 per share expected.

Daily active users reported at 1.91 billion (7% year-over-year), in line with expectations. Monthly active users were at 2.90 billion vs. 2.91 forecast. The average revenue per user was higher than expected at $10.12 vs. the $9.66 forecast.

Founder and CEO, Mark Zuckerberg, commented on the latest results in a statement: ”We had a strong quarter as we continue to help businesses grow and people stay connected.”

”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 were down by around 3% in the after-hours trading after finishing the trading day up by 1.49%. The stock is trading 62% higher since the same time last year, ending the trading day on Wednesday at $359.22 per share.

Facebook Chart (1Y)

 

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Sources: Facebook, Refinitiv, TradingView

 

 

 

Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.

#Economy #Economics #Finance #Markets
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