Facebook has finished the last year in a very good financial background. 2020 was much stronger for Facebook than at the beginning of the year. It proves that its business has risen extremely during the coronavirus pandemic and thanks to increased screen time for past 12 months.
Facebook usage has soared in 2020 – Real or fake?
The company reported that the fourth quarter earnings were of more than $28 billion in revenue with profit of $11.2 billion. It has been increased to 53 percent from 31 percent year-over-year. If Facebook’s usage is considered, the social platform is up all around with more than 1.84 billion people using at least once a day in December 2020. With extreme success rate, Facebook has seen an 11 percent year-over-year increase. If you look at the success rate then as of December 31st, 2020, more than 2.8 billion people check Facebook at least once a month and that was a 12 percent jump from the previous year.
Looking ahead at Facebook Business –
When usage of its bundled family of apps was measured, Facebook Messenger, Instagram, and WhatsApp were included in the list. The Company refers to as “family active people” which are even better, as usual. As per figures, there are more than 2.6 billion and 3.3 billion people who check one of Facebook’s apps every day (up 15 percent from 2019) and one of the apps at least once a month (up 14 percent) respectively.
Obviously, the business of Facebook was largely unaffected by its decision to temporarily ban political advertising following the US election. It was well expected with the political advertising pales in comparison to e-commerce, standard retailer, and small business ads, pop-up notifications like https://www.awdude.com/what-is-content-com-avast-android-mobilesecurity-temporarynotifications/ for the platform. If Facebook’s “Other” category are assumed, including its Portal video chat devices and Oculus virtual reality business, they also fared quite well last quarter and have seen a 156 percent jump in revenue to $885 million. Also, Facebook launched second-generation wireless Quest headset with Quest 2 and Portal devices in the quarter of 2020. They have seen movement for sales all year as people have worked remotely and virtual hangouts at home.
As per the earnings report, Facebook says that it will “continue to face significant uncertainty as we manage through a number of cross currents in 2021.” The company won’t be able to maintain the same speed of growth in the second half of 2021. Facebook’s WhatsApp launched a new privacy policy update that tends users to move for the app like Signal and Telegram.
