The total revenue of the social media giant for the reported quarter was up by 56% YoY

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Facebook app on a smartphone. (Credit: Gerd Altmann from Pixabay)

Facebook has registered a 101% surge in its net income for the second quarter of 2021 (Q2 2021) at $10.39bn compared to $5.18bn in the same quarter of the previous year.

For the preceding quarter, that is Q1 2021, the social media giant reported a net income of $9.49bn.

Facebook’s diluted earnings per share for the reported quarter that ended 30 June 2021 were $3.61, a 101% growth compared to $1.8 in Q2 2020.

Its total revenue for Q2 2021 witnessed an increase of 56% from $18.68bn in Q2 2020 to $29.07bn. In the previous quarter, Facebook’s total revenue was $26.17bn.

Facebook earned revenue of $28.58bn from advertising in the reported quarter, which marks a year-over-year (YoY) change of 56% compared to $18.3bn made in Q2 2020.

The growth in advertising revenue for the second quarter was driven by an increase of 47% YoY in the average price per ad and a 6% jump in the number of ads delivered.

The company continues to expect its capital expenditures for the current year to be in the range of $19-21bn. Its 2021 total expenses are also expected to remain the same at $70-73bn.

Facebook said that its daily active users (DAUs) for Q2 2021 were 1.91 billion on average, which is an increase of 7% YoY. Its monthly active users (MAUs) during the reported quarter moved up by 7% YoY to 2.9 billion.

The daily active people (DAP) for Q2 2021 increased by 12% YoY to 2.76 billion, while the monthly active people (MAP) was up by 12% YoY as well to 3.51 billion.

There was a 21% YoY increase in Facebook’s headcount for Q2 2021 at 63,404.

Facebook founder and CEO Mark Zuckerberg said: “We had a strong quarter as we continue to help businesses grow and people stay connected.

“I’m excited to see our major initiatives around creators and community, commerce, and building the next computing platform coming together to start to bring the vision of the metaverse to life.”