Earnings: $3.30 per share vs. $2.37 per share forecast
Revenue: $26.17 billion vs. $23.67 billion expected
Daily active users (DAUs): 1.88 billion vs. 1.89 billion forecast by FactSet
Monthly active users (MAUs): 2.85 billion vs. 2.86 billion forecast by FactSet
Average revenue per user (ARPU): $9.27 vs. $8.40 forecast by FactSet
The company reported revenue of $26.17 billion for the quarter, which was up 48% compared with a year prior. Facebook’s net income grew 94% to $9.5 billion, from $4.9 billion a year prior.
Facebook CEO Mark Zuckerberg talked about the company’s focus on building e-commerce features as a key part of delivering a “personalized” experience to users. Zuckerberg also announced that the company now counts more than 1 billion monthly active users who visit Facebook’s Marketplace service, where users can buy and sell goods.
“Commerce have been growing in our services for a while, but it has become a lot more important as the pandemic has accelerated a broader shift towards businesses moving online,” Zuckerberg said.
Building out payment technology, including the diem digital currency and Novi digital wallet, will be key to enabling more commerce on Facebook’s services, Zuckerberg said, adding that he hopes those technologies launch soon.
“Commerce across all these platforms is going to be very important, and certainly in a platform that we’re building like this, we want to enable payments very easily to make it so the economics all work out for developers,” Zuckerberg said.
Zuckerberg also reiterated a number of new features the company is building for Instagram creators to make money. He said those features will incentivize creators to post more content on Instagram.
“If we become the best place for creators to make a living that’s going to mean that there’s better content across the services and better opportunities for community building and engaging people,” Zuckerberg said. “And that’s what we care about.”