Facebook doubles profit but braces for hit from Apple privacy changes
By
Clare Duffy, CNN Business
Published Jul 29, 2021 12:00:33 PM
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(CNN) — Facebook's business is soaring, but the boom times may not last.
Facebook 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.