Facebook revenue in Q4 2020 grew by 33%

US, WASHINGTON (ORDO NEWS) — Revenue of Facebook, which owns the social network of the same name, grew by 33% in Q4 2020 compared to the same period in 2019. Relevant data are provided in the company’s financial statements published on Wednesday.

In the three months ended December 31, 2020, Facebook’s revenue was $ 28.072 billion, up from 21.082 billion in the same period in 2019. At the same time, the company’s annual revenue increased by 22% – to $ 85.965 billion.

Facebook’s net profit in the IV quarter of last year reached $ 11.219 billion, compared with $ 7.349 billion a year earlier. On an annualized basis, the company’s profit reached $ 29.146 billion.In 2019, the data on this indicator reached $ 18.485 billion.The average daily number of unique users of the social network was 1.84 billion people, an increase of 11% over the year.

“At the end of the year, we have achieved good results, as individuals and companies have not stopped using our services even during these difficult times,” said Facebook CEO Mark Zuckerberg. At the same time, the company’s report noted that its economic success in 2020 was largely driven by strong demand for online commerce, which resulted in Facebook growing 31% of its quarterly ad revenue.

Facebook was founded on February 4, 2004 by Mark Zuckerberg and three of his fellow students while they were studying at Harvard University. The company, headquartered in Menlo Park, California, owns the social networks Facebook and Instagram, as well as the WhatsApp and Messenger applications.

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