Facebook profits top $10B 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 doubled its profit in the second quarter thanks to a massive increase in advertising revenue, especially the average price of the 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. Separately, Facebook said on Wednesday that it will make vaccines mandatory for employees in the U.S. who work in offices. Exceptions will be made for medical and other reasons. Google announced a similar policy earlier in the day. 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.