#Facebook warns staff to decelerate significantly update#
The company said it continues "to expect increased ad targeting headwinds in 2021 from regulatory and platform changes, notably the recent iOS updates." Investors were watching how a new privacy update from Apple would impact its bottom line.
Congress unveiled the package of five antitrust bills in mid-June. The company's earnings come after it decided in early June that former President Donald Trump will be suspended from the platform until at least January 2023.įacebook and its Big Tech peers also face potentially new legislation designed to keep them from growing too large and powerful.
Facebook passed that mark after a US court threw out the Federal Trade Commission antitrust lawsuit against the company, as well as one put forward by state attorneys general.įacebook is the fifth US company to hit the $1 trillion market cap milestone. The company hit a major milestone during its second quarter, surpassing a $1 trillion market capitalization in late June. Shares fell about 4.5% in late trading following the release. User numbers ballooned during 2020, as the pandemic kept people inside and online, but the firm said: "We expect year-over-year total revenue growth rates to decelerate significantly" in the second half of 2021. The total number of ads delivered rose 6% year-over-year, Facebook said, while revenue from the segment was up 47%.
Earnings per share (EPS): $3.61 versus estimates of $3.02.Revenue: $29.1 billion versus $27.9 billion expected.Facebook on Wednesday reported its second-quarter earnings that largely exceeded investor expectations while warning of growing pains to come.
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