Facebook beats Q2 earnings expectations

The American online social media and social networking service posted Q2 2021 figures that came in higher than estimates

Facebook reported adjusted earnings per share of $3.61, higher than the $3.03 expected by the market. Its revenue also topped the $27.89 billion consensus, with figures coming in at $29.08 billion. On the other hand, the number of daily active users came in line with expectations – 1.91 billion.

According to the company’s statement, its revenue grew 56% year-over-year in the second quarter, marking the fastest growth rate since 2016. Moreover, Facebook’s pointed to a 47% increase in average price per ad and a 6% rise in the number of ads delivered.

For the future, Facebook expects “year-over-year total revenue growth rates to decelerate significantly on a sequential basis as we lap periods of increasingly strong growth.” Analysts are looking for Q3 revenue of $28.22 billion, pointing to a 31% growth.

As of Wednesday’s close, Facebook share price has gained 37% since the beginning of the year. During the same time, USA500 has risen 17%.

Source: cnbc.com