The company continues to face pressure from global lawmakers and regulators, including from the US Federal Trade Commission which has until August 19th to refile its antitrust complaint against the company and from a group of states who said on Wednesday they would appeal the judge's dismissal of their lawsuit.įacebook hit $1 trillion market cap for the first time last month when the judge threw out the original complaints. Analysts had expected a profit of $3.03 per share. staff The companys total revenue, which primarily consists of ad sales, rose to 29.08 billion in the second quarter from 18.69 billion a year earlier, beating analysts estimates of 27.89 billion, according to IBES data from Refinitiv. Profit after tax rose to $10.4 billion, or $3.61 per share, from $5.18 billion, or $1.80 per share, a year earlier. Facebook warns growth to slow significantly, mandates vaccine for U.S. Facebook Q2 Revenue Up 56 & Profit Doubles, Warns of Slower Growth. Facebook Inc said on Wednesday it expects revenue growth to decelerate significantly, sending the social media giant’s shares down 3.5 in. Facebook warns growth set to slow significantly Published. Facebook Q2 revenue jumped 56 and net profit doubled to 10.4 billion, while the social giant warned growth rates will slow. Facebook warns growth to slow significantly. Make Money and Accelerate Your Networking. For its second quarter, however, the firm surpassed estimates and. Your Guide to Branding, Mastery, and Sales With Proven Formulas on Instagram, Facebook, YouTube, and Twitter. Facebook blows past estimates, but warns growth will ‘decelerate’ in second half of year. Facebook said growth will slow down in the coming months after a pandemic-driven boom. Tech giants profits soar as pandemic boom continues. Facebook shares fell as much as 5 in extended trading on Wednesday after the social-media company called for revenue growth to slow in the quarters ahead, even as second-quarter results came in ahead of estimates. Facebook Inc said on Wednesday that it expects revenue growth in the third and fourth quarters of 2021 to decelerate significantly, sending the social media giant’s shares down about 5. "In the third and fourth quarters of 2021, we expect year-over-year total revenue growth rates to decelerate significantly on a sequential basis as we lap periods of increasingly strong growth," chief financial officer Dave Wehner said in the earnings release. Facebook, however, said that it expects revenue growth to slow. Facebook, like its peers, has seen increased demand for digital ads as the pandemic drove consumers to shop largely online, forcing several businesses to create online stores and markets using social media platforms.
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