FACEBOOK saw a 48% year-to-year jump in first quarter 2021 revenues to $25.4 billion, resulting in a 94% increase in net income to $9.5 billion ($3.30/share). Daily active users increased 8% to 1.88 billion, with monthly active users up 10% to 2.85 billion.
“We had a strong quarter as we helped people stay connected and businesses grow,” said CEO MARK ZUCKERBERG. “We will continue to invest aggressively to deliver new and meaningful experiences for years to come, including in newer areas like augmented and virtual reality, commerce, and the creator economy.”
CFO DAVE WEHNER added, “We are pleased with the strength of our advertising revenue growth in the first quarter of 2021, which was driven by a 30% year-over-year increase in the average price per ad and a 12% increase in the number of ads delivered. We expect that advertising revenue growth will continue to be primarily driven by price during the rest of 2021.
“We expect second quarter 2021 year-over-year total revenue growth to remain stable or modestly accelerate relative to the growth rate in the first quarter of 2021 as we lap slower growth related to the pandemic during the second quarter of 2020. In the third and fourth quarters of 2021, we expect year-over-year total revenue growth rates to significantly decelerate sequentially as we lap periods of increasingly strong growth. We continue to expect increased ad targeting headwinds in 2021 from regulatory and platform changes, notably the recently-launched iOS 14.5 update, which we expect to begin having an impact in the second quarter. This is factored into our outlook.”