Facebook reported its financial results for the quarter and full-year ended December 31, 2020. The social media company revealed that it’s seen an increase in usage, proving that it could thrive despite the COVID-19 pandemic.
Here’s a closer look at the full-year highlights:
- Facebook daily active users (DAUs) – DAUs were 1.84 billion on average for December 2020, an increase of 11% year-over-year.
- Facebook monthly active users (MAUs) – MAUs were 2.80 billion as of December 31, 2020, an increase of 12% year-over-year.
“We continue to face significant uncertainty as we manage through a number of crosscurrents in 2021,” says Facebook CFO, David Wehner.
“We believe our business has benefited from two broad economic trends playing out during the pandemic. The first is the ongoing shift towards online commerce. The second is the shift in consumer demand towards products and away from services.”
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Wehner goes on to say that Facebook believes these trends gave tailwind to its advertising business in the second half of 2020 thanks to the rise of eCommerce and its lower exposure to services like travel.
“At the same time, in the first half of 2021, we will be lapping a period of growth that was negatively impacted by reduced advertising demand during the early stages of the pandemic. As a result, we expect year-over-year growth rates in total revenue to remain stable or modestly accelerate sequentially in the first and second quarters of 2021.”
The social media giant is also expected to face more significant ad targeting headwinds in 2021. This includes the impact of platform changes, notably iOS 14, as well as the evolving regulatory landscape.
