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Facebook Doubles Profits, Pledges to Keep Investing

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Facebook doubled its profits between January and March 2021. This was reported by the company this Wednesday through a report and detailed that it reached $9.5 billion dollars, practically double the $4.9 billion earned in the same period of 2019.

“We had a strong quarter as we helped people stay connected and businesses grow,” said Mark Zuckerberg.

Similarly, Zuckerberg maintained that the company will continue to invest in the economy. In fact, he indicated that they will do so in new areas. “We will continue to invest aggressively to deliver new and meaningful experiences for years to come, including in newer areas like augmented and virtual reality, commerce, and the creator economy.”

Facebook doubled its profits and promised to continue investing (Image: EFE).

Facebook doubled its earnings

The company invoiced in the first three months of its fiscal year 26,171 million dollars, 48% more than the 17,737 million dollars earned in the same corresponding period of 2020.

In addition, monthly active users grew 10% year-on-year to 2.85 billion people, more than a third of the world’s population. These are people who log in to the app for even 10 minutes.

“We are pleased with the strength of our advertising revenue growth in the first quarter of 2021, which was driven by a 30% year-over-year increase in the average price per ad and a 12% increase in the number of ads delivered. We expect that advertising revenue growth will continue to be primarily driven by price during the rest of 2021,” the company said.

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