Facebook revenue hits $28 billion in the final quarter of 2020

Facebook, a social networking giant, recently published data for for the fourth quarter of 2020 and reported that, amid the pandemic, the company effectively attracted new users on the site. Facebook revenue hit $28 billion in the final quarter of 2020, which is 33 percent higher than last year. According to the data, the company’s net profit was more than $11 billion, which was more than 53 percent more than the year before.

“As our company continue to expand, we had a good quarter and a great end to the year, we stayed focused on developing programs that help individuals stay connected to those they care for”, said Mark Zuckerberg, founder and CEO of Facebook.

Facebook’s social metrics reflect its estimation of the actual number of unique individuals using app, Instagram, Messenger, and/or WhatsApp (collectively, our Family of products).

Facebook revenue data shows that during the last quarter of the year, the company has continued to retain new users amid numerous scandals and the pandemic in 2020.

Data reveals that in the fourth quarter, the number of daily Facebook users stood at 1.84 billion and 2.8 billion weekly, an 11 percent and 12 percent rise over the year, respectively.

The goal of Facebook is to give individuals the power to create society and bring the world closer together. To interact with friends and family, find communities and develop companies, people use Facebook’s apps and technologies.