{"id":100947,"date":"2020-10-30T00:09:39","date_gmt":"2020-10-29T21:09:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/facebook-revenues-beat-forecasts-as-advertisers-return-from-boycott\/"},"modified":"2020-10-30T00:09:39","modified_gmt":"2020-10-29T21:09:39","slug":"facebook-revenues-beat-forecasts-as-advertisers-return-from-boycott","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/facebook-revenues-beat-forecasts-as-advertisers-return-from-boycott\/","title":{"rendered":"#Facebook revenues beat forecasts as advertisers return from boycott"},"content":{"rendered":"

“#Facebook<\/a> revenues beat forecasts as advertisers return from boycott<\/strong>”
\n<\/p>\n

\n Another grilling on Capitol Hill, another pile of profits.<\/p>\n

Facebook walloped Wall Street\u2019s forecasts with strong profits on Thursday, as advertisers returned to the platform in full force despite growing anti-trust concerns and a public grilling this week of CEO Mark Zuckerberg by US senators.<\/p>\n

The social-networking giant on Thursday also beat estimates for ad revenue, boosted by spending returning following a second quarter slowdown.<\/p>\n

Like smaller rival Snap, which reported stellar results last week, Facebook\u2019s numbers further boosted the belief that ad spending may be coming back to life after months of pullback due to the coronavirus shutdowns.<\/p>\n

Facebook beat revenue expectations by 80 cents, bringing in $2.71 per share versus the forecasted $1.91. The Menlo Park, Calif.-based company also raked in revenue of $21.5 billion, up 22 percent year-over-year and well ahead of the expected $19.8 billion.<\/p>\n

The revenue beat arrived the same quarter that Facebook was the subject of a high-profile advertiser boycott, with\u00a0400 advertisers including Starbucks, Coca-Cola and Microsoft abandoning its platform for the month of July.<\/p>\n

Daily active users clocked in at 1.82 billion, a 12 percent increase, while monthly active users were up by the same percentage to 2.74 billion.<\/p>\n

\u201cWe had a strong quarter as people and businesses continue to rely on our services to stay connected and create economic opportunity during these tough times,\u201d Zuckerberg said in a statement.<\/p>\n

Shares of Facebook, which climbed 4.9 percent Thursday, were down 1.7 percent in extended trading as it revealed that its daily active user figure in the US and Canada fell slightly from 198 million to 196 million and would likely not grow in the fourth quarter.<\/p>\n

If analysts and investors were worried about the hostility shown toward Facebook in Wednesday\u2019s Senate hearing, they didn\u2019t show it. CFRA analyst John Freeman told The Post that until real suggestions for regulation are brought forth, there will be little concern for Facebook\u2019s bottom line.<\/p>\n

\u201cThey\u2019ve been brought to the Senate twice now in the past few months,\u201d he said. \u201cIt\u2019s for show, it\u2019s easy bipartisan bashing.\u201d<\/p>\n

Freeman added that the only thing that is known at the moment is that there is some app<\/a>etite for regulation of some form, but that there is little clarity of what it will look like or how, if at all, it will affect Facebook\u2019s business model.<\/p>\n

\u201cRight now, the law is the law,\u201d he said. \u201cWhat we need to see is how intrusive that regulation is down the road. I don\u2019t think revenue and profits are touched by any of this at all.\u201d<\/p>\n

Scott Kessler, the global sector lead for technology<\/a> media and telecommunications at Third Bridge, agreed, telling The Post that it remains to be seen what the priorities and focus areas for individual agencies and members of Congress result in.<\/p>\n

\u201cThese things are being anticipated,\u201d Kessler said. \u201cIt\u2019s just not apparent what exactly is going to happen and when that\u2019s going to occur. Many have thought for some time that even if changes happen, Facebook is in a position to address them based on its size and resources and properties.\u201d\n <\/p><\/div>\n

\n

For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Facebook revenues beat forecasts as advertisers return from boycott” Another grilling on Capitol Hill, another pile of profits. Facebook walloped Wall Street\u2019s forecasts with strong profits on Thursday, as advertisers returned to the platform in full force despite growing anti-trust concerns and a public grilling this week of CEO Mark Zuckerberg by US senators. The…<\/p>\n","protected":false},"author":1,"featured_media":100948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/Facebook-Thumb-1.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[77574,70237,4974,5077],"class_list":["post-100947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-29-20","tag-corporate-earnings","tag-facebook","tag-mark-zuckerberg"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/100947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=100947"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/100947\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/100948"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=100947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=100947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=100947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}