Facebook capped a tumultuous 2020 with soaring earnings in the final quarter, its user base boosted by people staying home and its revenue buoyed by a shift to digital advertising amid the pandemic.
But the company predicted uncertainty for 2021 and said its revenue in the latter half of the year could face significant pressure.
Because revenue grew so quickly in the second half, the social network could have trouble keeping up that pace. It’s also facing challenges in how it targets advertisements, including Apple’s coming launch of privacy protections that could limit Facebook’s ability to target ads.
Facebook earned $11.22 billion, or $3.88 per share, in the October-December period, well above the $3.19 that analysts expected and up 53%