Washington (SunstarTV Bureau): American technology company Facebook ended 2020 on a high note while its fourth-quarter earnings reached more than twenty-eight million dollars thanks to the skyrocketing screen time in the past year.
But the company predicted uncertainty for 2021 and said its revenue in the latter half of the year could face significant pressure. Because revenue grew so quickly in the second half, the social network could have trouble keeping up that pace.
It’s also facing challenges in how it targets advertisements, including Apple’s coming launch of privacy protections that could limit Facebook’s ability to target ads.
Facebook earned USD 11.22 billion or USD 3.88 per share, in the October-December period, well above the USD 3.19 that analysts expected and up 53 per cent from a year earlier. Revenue grew 22 per cent to USD 28.07 billion, higher than the USD 26.36 billion analysts were predicting, report said.
Its monthly user base grew 12 per cent to 2.8 billion. Facebook ended 2020 with 58,604 employees, a 30 per cent increase from a year earlier.
Shares of the Menlo Park, California-based company slipped about 2per cent in after-hours trading to USD 268.98.