Monthly active users on Facebook grew 10% to 2.85 billion and daily active users increased to 1.88 billion.
Facebook’s recent report of its first-quarter earnings saw the company’s revenue increase 48% YoY to $26 billion. Most of the revenue was through the advertising business. Further, the company’s average price per ad was up 30% and the number of ads delivered surged to 12%, as per Facebook’s CFO David Wehner.
The daily active users across the US and Canada were consistent with pre-pandemic levels. Following the earnings call, the company's stock increased by around 6% after-hours trading.
The company expects growth in revenue to “significantly decelerate” in H2 2021. With privacy changes coming into effect, The Social Element’s Ashley Cooksley observes that where “Apple wants privacy built into the internet, Facebook wants an infrastructure of access.”
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