Facebook’s push for e-commerce features is starting to pay off, as the Facebook marketplace has 1 billion users.
And Facebook revealed that there are more than one million stores in the market, with more than 250 million users interacting with the stores every month.
And theAnnounced The company reported revenues of $ 26.17 billion for the quarter, up 48 percent over the previous year.
Facebook’s net income grew 94 percent to $ 9.5 billion, from $ 4.9 billion the year before.
Facebook attributed the large increase in revenue to a 30% year-on-year increase in the average ad price and a 12% increase in the number of ads served.
And theSoared Facebook ad revenue increased by more than 45 percent in the first three months of 2020, reaching $ 25.4 billion – or nearly seven times what Twitter achieved in an entire year.
Facebook believes that ad revenue will continue to grow through the rest of 2020, but sees a slowdown coming in the second half of the year.
Zuckerberg indicated that e-commerce has become more important during the Coronavirus pandemic, and it has also allowed the company to find new ways to make money from its services.
He said: The company allows business owners to buy Facebook ads that open directly in WhatsApp from the WhatsApp Business application, and Instagram plans to allow influencers to launch their own stores through the application.
Zuckerberg added: We are investing in building the future of commerce, and we still have a long way to go to create a full-featured trading platform across our services, and this modern trade system combines a number of areas, where we have advertisements, community tools, messages with stores, business messages and payments.
It should be noted that Facebook’s other revenues grew by 146 percent to reach $ 732 million, and this category represents sales of Facebook devices, including Oculus and Portal devices.
The company is working on improvements to its advertising technology that would allow better advertising targeting even with less data access.
She described these improvements as a rebuilding of the company’s technology, with the goal of maintaining and improving performance over the long term.
The company also said: It expects its capital expenditures for 2021 to range between $ 19 billion and $ 21 billion, which is down from the previous estimate of between $ 21 billion and $ 23 billion that it provided.
- Active Facebook users daily: 1.88 billion, an increase of 8% year-on-year.
- Monthly active Facebook users: 2.85 billion, up 10 percent year-on-year.
- Active Facebook group of apps daily users: 2.72 billion, an increase of 15 percent year-on-year.
- Monthly active Facebook app group users: 3.45 billion, up 15 percent year-on-year.