Facebook’s Sales, Users Jump as Pandemic Habits Persist
- Average ad price soars 30% as consumers boost web time
- Loosened lockdowns, Apple software changes are risk to growth
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Facebook Inc.’s first-quarter sales rose 48%, surging past analysts’ estimates thanks to strong demand from retailers and other advertisers seeking to grab attention from the social network’s billions of users.
Revenue climbed to $26.2 billion, the company said Wednesday in a statement. That dwarfed the $23.7 billion average estimate of analysts, according to data compiled by Bloomberg. Facebook reported 2.85 billion monthly active users, a rise of 10%. Analysts projected 2.83 billion. Shares jumped more than 6% in late trading.