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Facebook quarterly revenue beats estimates

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Facebook quarterly revenue beats estimates

Facebook Inc beat analysts’ estimates for quarterly revenue on Thursday, as more businesses used its digital advertising tools during a pandemic-induced surge in online traffic.

Axar.az informs that revenue growth at Facebook, the world’s second-biggest seller of online ads after Alphabet Inc’s Google, has been growing despite an unprecedented advertising boycott and a coronavirus-triggered recession.

A July advertising boycott, which drew the support of major advertisers including Unilever, Starbucks Corp and Coca-Cola Co, sought to pressure Facebook to take more action against hate speech.

Total revenue, which primarily consists of ad sales, rose to $21.47 billion from $17.65 billion in the third quarter ended Sept. 30, beating analysts’ estimates of $19.82 billion, according to IBES data from Refinitiv.

Date
2020.10.30 / 09:51
Author
Axar.az
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