Sunday, May 19, 2024

Facebook Earns Profit Worth $28 Billion in Fourth Quarter of 2020

For the fourth quarter of 2020, Facebook, the world’s largest social networking site, has published statistics showing that approximately 2.6 billion people use Facebook on a regular basis.

Facebook’s revenue in the fourth quarter hit $28 billion, which is 33 percent more than the year before, as per an article.

The net profit for the company was more than $11 billion, which was more than 53 percent more than the year before, according to the data.

Facebook figures show that in the last quarter of the year, Facebook has continued to retain new users amid numerous scandals and the pandemic in 2020.

Data reveals that in the fourth quarter, number of daily Facebook users stood at 1.84 billion and 2.8 billion weekly which is a rise of 11 percent and 12 percent over the year, respectively.

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