The social media firm’s revenue for the third quarter ended 30 September 2021 was $29.01bn, a 35% increase compared to $21.2bn in Q3 2020
Facebook has posted a net income of $9.19bn for the third quarter of 2021 (Q3 2021), a 17% increase compared to $7.84bn in the same quarter of the previous year.
During the previous quarter, that is Q2 2021, the social media company registered a net income of $10.39bn.
Facebook’s diluted earnings per share for the quarter ended 30 September 2021 were $3.22, a 19% increase compared to $2.7 in Q3 2020.
The company’s total revenue for Q3 2021 was $29.01bn, which is a 35% increase compared to $21.2bn in the same quarter of the previous year. In Q2 2021, Facebook’s total revenue was nearly the same, at $29.07bn.
Facebook founder and CEO Mark Zuckerberg said: “We made good progress this quarter and our community continues to grow.
“I’m excited about our roadmap, especially around creators, commerce, and helping to build the metaverse.”
Facebook is projecting its total revenue for the fourth quarter of 2021 to be in a range of $31.5bn to $34bn.
The social media firm said that its outlook reflects the considerable uncertainty it will face in Q4 considering the continued headwinds from Apple’s iOS 14 changes alongside macroeconomic and Covid-related factors.
Apart from that, the company anticipates its non-ads revenue to be down year-over-year in Q4 owing to the strong launch of Quest 2 virtual reality headset during the holiday shopping season in 2020.
In the reported quarter, the company’s revenue from advertising was $28.27bn, a 33% increase compared to $21.2bn made in Q3 2020. The non-advertising revenue was $734m, a surge of 195% compared to $249m reported in the third quarter of last year.
Facebook said that its daily active users (DAUs) for Q3 2021 were 1.93 billion on average, which is an increase of 6% year-over-year (YoY). Its monthly active users (MAUs) during the reported quarter moved up by 6% YoY to 2.91 billion.
The daily active people (DAP) for Q3 2021 increased by 11% YoY to 2.81 billion, while the monthly active people (MAP) moved up by 12% YoY to 3.58 billion.
There was a 20% YoY growth in Facebook’s headcount for Q3 2021 at 68,177.
The company’s 2021 total expenses are expected to be $70-71bn.
For the full-year 2022, the total expenses are projected to be $91-97bn with investments to be made across technical and product talent and costs related to infrastructure.
Earlier this month, the company revealed plans to recruit 10,000 people in the European Union over the next five years for its metaverse project.
From the fourth quarter onwards, the company will have two reportable segments, which will be ‘family of apps’ and Facebook reality labs.