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Facebook's Revenue Grew 11% In Q2 2020 Compared To 2019

Facebook's Revenue Grew 11% In Q2 2020 Compared To 2019

Revenue of the American company Facebook, which owns the social network of the same name, increased in the second quarter of this year by 11% compared to the same period in 2019. The corresponding data is provided in the company's quarterly financial statements published on Thursday.

For the three months ending June 30, Facebook's revenue was $18.69 billion, compared with $16.89 billion for the same period the previous year. Thus, the annual revenue growth was 11%. According to CNN, experts expected that Facebook's revenue for the specified period would not exceed $17.4 billion.

The company's net income in the second quarter of this year increased by 98% compared to last year's figures and amounted to $5.18 billion. The daily number of unique users of the social network was 1.79 billion people, showing an increase of 12% compared to the second quarter of 2019.

Facebook was founded on February 4, 2004, by Zuckerberg and three of his fellow students while they were studying at Harvard University. According to the company's specialists, more than 2.7 billion people in the world use one of its services at least once a month. Facebook and Instagram social networks, as well as WhatsApp and Messenger apps, are included in this list.

"We're glad to be able to provide small businesses the tools they need to grow and be successful online during these challenging times," said Mark Zuckerberg, Facebook founder and CEO. "And we're proud that people can rely on our services to stay connected when they can't always be together in person."

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