Facebook doubles profit but braces for hit from Apple privacy changes
CNN
Facebook's business is soaring, but the boom times may not last.
Facebook (FB) on Wednesday reported revenue of nearly $29.1 billion for the three months ended June 30, a 56% jump from the same period last year when online advertising took a hit as businesses grappled with Covid-19. The company also more than doubled its quarterly profit to almost $10.4 billion, well above the $8.7 billion analysts projected. However, the outlook for the rest of 2021 is not so sunny, CFO David Wehner said in a statement with the earnings report.More Related News
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