Facebook doubles Q2 profit as revenue soars
Facebook doubled its profit in the second quarter thanks to a massive increase in advertising revenue, especially the price of ads it delivers to its nearly 3 billion users
![Facebook-Results](https://static.independent.co.uk/2021/07/28/21/Facebook-Results_18544.jpg)
Your support helps us to tell the story
As your White House correspondent, I ask the tough questions and seek the answers that matter.
Your support enables me to be in the room, pressing for transparency and accountability. Without your contributions, we wouldn't have the resources to challenge those in power.
Your donation makes it possible for us to keep doing this important work, keeping you informed every step of the way to the November election
![Head shot of Andrew Feinberg](https://static.independent.co.uk/static-assets/support-us/andrew-feinberg.png)
Andrew Feinberg
White House Correspondent
Facebook doubled its profit in the second quarter thanks to a massive increase in advertising revenue, especially the average price of ads it delivers to its nearly 3 billion users.
But the company said it doesn’t expect revenue to continue to grow at such a breakneck pace in the second half of the year.
The Menlo Park California-based company earned $10.39 billion, or $3.61 per share, in the April-June period. That's up from $5.18 billion, or $1.80 per share, a year earlier.
Revenue jumped 56% to $28.58 billion from $18.32 billion. Analysts, on average, were expecting earnings of $3.04 per share and revenue of $24.85 billion, according to a poll by FactSet.
Facebook had 2.9 billion monthly users as of June, up 7% from a year earlier.
Shares fell $11.77, or 3.2%, to $373.28 in after-hours trading. Earlier in the day, the stock hit an all-time high of $377. 55 in anticipation of the results, so the decline wasn't unexpected.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.