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Sci-Tech
Sunday Jan 31 2021
By
Web Desk

Facebook generates revenue worth $28 billion in fourth quarter of 2020

By
Web Desk
Representational image. Photo: File
  • Facebook says 2.6 billion people use it on a daily basis
  • Data released by the company for fourth quarter of 2020 shows its revenue reached $28 billion, which is 33% more than previous year
  • Despite pandemic, controversies, Facebook managed to attract new users in the last quarter of the year, company claims


Facebook, the largest social networking site in the world, has released data for the fourth quarter of 2020 according to which about 2.6 billion people use Facebook on a daily basis daily.

According to an article by Tech Crunch, Facebook's revenue in the fourth quarter reached $28 billion, which is 33% more than the year before. Per the data, the overall profit for the company was more than $11 billion, which was more than 53% more than the previous year. 

Read more: Facebook rolls out new messaging features on Instagram and Messenger

Facebook's statistics show that despite various controversies and the pandemic in 2020, Facebook has managed to attract new users in the last quarter of the year.

Data shows that the number of daily Facebook users in the fourth quarter stood at 1.84 billion and 2.8 billion monthly, an increase of 11% and 12% over the year, respectively.

Read more: Australia to force Facebook, Google to pay for news content