According to its quarterly report the company's Net income jumped 101% in the second quarter
The company posted revenue of $29.1 billion in the quarter – well above forecasts. However, the company warns of a significant slowdown in the growth rate of revenue in the second half.
The dramatic increase in Facebook revenue is particularly due to the change in the iPhone’s operating system, which came into effect in the middle of the quarter, which prevents apps from monitoring user activity in other apps, and makes it harder for Facebook to display ultra-targeted ads.
However, according to Facebook the impact of this change will be felt in the third quarter with greater intensity than in the second.
The company also warned that it expects a significant slowdown in revenue growth in the second half of 2021.
Facebook has also warned of continued headwinds as a result of regulatory changes and changes to the platform, particularly the iOS update.
META
The company posted revenue of $29.1 billion in the quarter – well above forecasts. However, the company warns of a significant slowdown in the growth rate of revenue in the second half.
The dramatic increase in Facebook revenue is particularly due to the change in the iPhone’s operating system, which came into effect in the middle of the quarter, which prevents apps from monitoring user activity in other apps, and makes it harder for Facebook to display ultra-targeted ads.
However, according to Facebook the impact of this change will be felt in the third quarter with greater intensity than in the second.
The company also warned that it expects a significant slowdown in revenue growth in the second half of 2021.
Facebook has also warned of continued headwinds as a result of regulatory changes and changes to the platform, particularly the iOS update.
META