All Sections

View and post jobs in journalism
  • Platforms
  • Publishers
  • Comment/Analysis
  • Editor's Pick
  • Interviews
  • News
    • Broadcast Journalism
    • Digital Journalism
    • Magazines
    • Media Law
    • National Newspapers
    • People
      • Appointments
      • Obituaries
    • Regional Newspapers
  • Press Gazette Podcast
  • British Journalism Awards
  • Press Gazette Email Newsletter

In the news

  • Platforms
  • Publishers
  • Interviews
  • Marketing
  • About us
  • Privacy Policy
  • Contact
  • Advertise
  • RSS
Close
[mashshare]
Skip to content
  • About us
  • Privacy Policy
  • Contact
  • Advertise
  • RSS
All sections

Search

Search pressgazette.co.uk

Close

Press Gazette

Subscribe to our email newsletter Journalism email newsletter
  • News
  • Comment
  • Data
  • Platforms
  • Publishers
  • Marketing
  • Awards
  • Jobs

Menu

  • Platforms
  • Publishers
  • Interviews
  • National Newspapers
  • Regional Newspapers
  • Digital Journalism
  • Broadcast Journalism
  • Media Law
  • Magazines
  • Wires and Agencies
  • Obituaries
  • News
  • Comment/Analysis
  • Jobs
  • British Journalism Awards

In the news

  • Platforms
  • Publishers
  • Interviews
  • Marketing
Close
Telegraph boss praises Boris Johnson as title's 'first journalist since Winston Churchill' to become PM
Mail and Metro publisher continues revenue growth in new nine-month figures
July 25, 2019
  • Digital Journalism
  •    
  • Media Business
  •    
  • News
  •    
  • Social media
  •    

Facebook's quarterly revenues climb by nearly a third year-on-year but net income halves

By Freddy Mayhew Twitter

Share this

  • Tweet
  • Share 0
  • Reddit
Comments
0

Facebook’s quarterly revenues have grown by nearly a third (28 per cent) year-on-year to $16.9bn for the three months to the end of June.

Almost all of its turnover, $16.6bn, comes from advertising. Mobile made up some 94 per cent of ad revenue for the period – up three per cent year-on-year.

Timeline

  • January 20, 2021

    Facebook removes UK aggregator NewsNow's page without warning or explanation

  • January 15, 2021

    Facebook Instant Articles format boosts article readership by third, Reach finds

  • December 17, 2020

    Facebook told Full Fact to remove fact-check ratings on doctored video of Keir Starmer during election

Despite the rise in turnover, the company’s net income fell by half year-on-year to $2.6bn for the period.

In its latest financial statement, Facebook said it must pay out $5bn in a settlement bringing a US Federal Trade Commission inquiry into its platform and user data practices to a close.

The company said it had agreed to “significantly enhance our practices and processes for privacy compliance and oversight” as part of the settlement.

The social network’s second quarter figures include a $2bn legal expense related to the FTC settlement and a $1.1bn additional income tax expense.

Facebook, which also owns social media channels Instagram and Whatsapp, estimates that more than 2.1bn people use its services every day on average.

Across its platforms, the number of daily average users reached 1.6bn on average for June, up 8 per cent year-on-year.

Facebook has grown staff numbers by close to a third (31 per cent) on June last year.

“We had a strong quarter and our business and community continue to grow,” said Facebook founder and chief executive Mark Zuckerberg.

“We are investing in building stronger privacy protections for everyone and on delivering new experiences for the people who use our services.”

In a statement in its accounts, Facebook said “the online technology industry and our company have received increased regulatory scrutiny in the past quarter” and revealed that the US Department of Justice will begin an “antitrust review of market leading online platforms”.

Facebook was the least trusted of the main social media platforms by UK users surveyed by Ofcom recently, with 35 per cent calling it trustworthy.

The company made $55.8bn in revenue and net income of $22.1bn last year.

SIGN UP HERE FOR

MEDIA MONITOR

Press Gazette's weekly email providing strategic insight into the future of the media

Subscribe

Related Stories

  • Half of UK adults now using social media for news, Ofcom survey finds
  • Gender pay gap figures in full: Conde Nast, Telegraph and Economist groups among worst offenders for pay disparity in UK media
  • Study: 28% of journalists unable to carry out job without social media
  • Regional ABCs: 38 weeklies increase sales year-on-year

Explore these topics

  • Facebook
Browse, search and add journalism jobs
Comments
No comments to display

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

More content

Post a job on Press Gazette

Most Popular

  1. TikTok tips for journalists by BBC's Sophia Smith Galer BBC's Sophia Smith Galer on TikTok fame and why she's 'flummoxed' more publishers don't copy Washington Post's 'Dave'
  2. New York Times third-party cookies New York Ties Interview: New York Times explains the in-house adtech it is using to prepare for the death of third-party cookies
  3. Journalism after Trump Journalism after Trump: Why facts are now more important than arguments
  4. Yumpu News for publishers Yumpu News for publishers: Spotify-style platform tested in Germany arrives in the UK
  5. cookies Enter Sandbox: How Google is building an internet without cookies - and why publishers are concerned

Latest Jobs

  • Global Witness logo investigative journalist job Investigation Officer (Forests), Global Witness
  • Editor in Chief, Scottish Sun
  • Features Producer, Economist Radio
Mail and Metro publisher continues revenue growth in new nine-month figures

© copyright 2021 Press Gazette Ltd. Made in Taiwan.