Facebook Inc

Facebook had an exceptionally good result with a staggering 56% top-line growth that was a result of increasing advertising spends on the platform. While its user base and activity had shot up during the pandemic, the ad spending had been low. However, the recent jump in revenues was a function of a 47% rise in the average price per ad coupled with a 6% rise in the number of ads delivered across its platforms. The company also witnessed a 7% jump in daily active users to 1.91 billion and saw the combined unique daily active users across all of its social networks grow 12% year to 2.76 billion. With the company’s gradual expansion of e-commerce offerings, it is entering into the territory of Shopify as it is allowing merchants to checkout and accept payments from its platform. The increasing ad revenues and e-commerce are expected to be major growth drivers for the company in the years to come.