Facebook Doubles Its Profits In A Pandemic Year

Facebook doubles its profits in a pandemic year. Zuckerberg’s conglomerate grows mainly in Asia and Africa. Online sales through its platforms drives growth.

The Facebook group announced this Wednesday profits for the first quarter of the year (January and March 2021) of 9,497 million dollars (7,831 million euros), practically double the 4,902 million (4,042 million euros) earned in the same period from the previous year, thanks to the boost from online advertising due to the pandemic.

The company directed by Mark Zuckerberg had a turnover in the first three months of its fiscal year 26,171 million dollars (21,580 million euros), 4% more than the 17,737 million entered in the corresponding section of 2020, and the shareholders of the company were they pocketed $ 3.30 per title, up from 1.71 a year ago.

If compared to the last quarter of the year, however, sales have fallen, something usual due to the impact of the Christmas advertising.

In addition, monthly active users – those who connect to the social network at least once a month – grew by 10% year-on-year to 2.85 billion people, more than a third of the world’s population. Users in Europe and the US remain stable and practically do not grow, but the number is increasing in Asia, Africa and Oceania.

Facebook has the social network of its name, but also WhatsApp, Instagram and a powerful e-commerce division on all its platforms that has been massively used during the pandemic.

Facebook doubles its profits in a pandemic year. Zuckerberg’s conglomerate grows mainly in Asia and Africa. Online sales through its platforms drives growth.

The company plans more investments in augmented reality and virtual reality (Oculus), as well as improving its payment system (Novi), according to Zuckerberg’s communication to shareholders. The company has also developed devices, such as Portal, a screen on which to integrate video calls and augmented reality applications.