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Facebook posts increased profits due to ad business, but cautions revenue growth will slow

on Jul 29, 2021 | 0 comments

By Shawn Lim

Facebook has announced a profit of $10.39bn for its second-quarter earnings, citing increased digital advertising spend as a key factor.

However, Facebook cautioned that it expects revenue growth to slow in the second half of 2021.

“We had a strong quarter as we helped people stay connected and businesses grow,” said Mark Zuckerberg, the founder and chief executive officer of Facebook.

“We will continue to invest aggressively to deliver new and meaningful experiences for years to come, including in newer areas like augmented and virtual reality, commerce, and the creator economy.”

Facebook’s rivals Alphabet, Apple and Microsoft have in recent days all Read full story ›

Source: The Drum