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Bloomberg
Facebook posted a better-than-projected gain in third-quarter revenue, indicating that a major advertiser boycott had a limited impact against the backdrop of a broader revival of spending on digital marketing.
The Menlo Park, California-based company said sales rose 22% to $21.5 billion, compared with the $19.8 billion average analyst estimate in a Bloomberg survey.
While Facebook reached 2.74 billion monthly active users in the quarter, exceeding predictions, it saw an unusual decline in users in the US and Canada, its most lucrative ad markets, as a pandemic-fuelled surge from earlier this year levelled off.
Facebook said ad targeting and measurement might become more difficult next year, not just because of regulations in Europe, but because of updates to privacy rules in Apple’s iOS 14 software.