Facebook reveals its second fiscal report for 2021 — for the second quarter, the social media company has reportedly gained a 56 percent revenue increase based on year-on-year growth analysis.
Facebook gained over $29 billion for this Q2 fiscal period. In line with the fiscal revelations of other big tech companies, Facebook’s Q2 revenue supersedes other tech giants, including Microsoft and Apple.
Apple appeared to be stunned about Facebook’s recent fiscal performance whereby the privacy update Apple introduced in its iOS 14.5 update — toggles ads tracking off by default.
Meanwhile, several users have reportedly used Facebook without activating the ad tracker Apple toggled off by default. Facebook’s current position is ascertained from joint efforts from its subsidiaries such as WhatsApp and Instagram.
Facebook and its subsidiary social media platforms have reportedly increased with 12 percent active users which also bolstered the extra amount of revenue they jointly contributed that equals $2.76billion based on active users’ revenue contribution.
“We had a strong quarter as we continue to help businesses grow and people stay connected.”
Facebook’s Chief Executive, Mark Zuckerberg said he is “excited to see our major initiatives around creators and community, commerce, and building the next computing platform coming together to start to bring the vision of the metaverse to life.”
It is worth noting that 99 percent of Facebook’s revenue is generated by its custom advert business. The social media company has gained over 47 percent of its revenue from ads placement — based on Facebook’s yearly fiscal report.
Although Facebook complained about Apple’s ads tracker that happens to hinder its business productivity. Apple policy requires its user’s permission before allowing third-parties apps to track their iPhones.
Still, Facebook seems worried about a potential setback that might lag its revenue growth. The social media CFO David Wehner revealed Facebook has schemed how it would gain more revenue despite Apple’s monopolized policy.