By Barbara Ortutay
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% from a year earlier. Revenue grew 22% to $28.07 billion, higher than the $26.36 billion analysts were predicting, according to a poll by FactSet.
Its monthly user base grew 12% to 2.8 billion. Facebook ended 2020 with 58,604 employees, a 30% increase from a year earlier.
Shares of the Menlo Park, California-based company slipped about 2% in after-hours trading to $268.98.
Stocks opened lower after the opening bell and on track for its first decline in 10 days after a recent winning streak.
Tesla drivers in the U.S. were in more accidents than drivers of any other car brand this year, according to a study.
The promise of self-checkout was alluring: Customers could avoid long lines by scanning and bagging their own items, workers could be freed of doing those monotonous tasks themselves and retailers could save on labor costs.
Monsanto was ordered to pay $857 million to students and parent volunteers at a Washington school.
A federal judge has struck down hundreds of lawsuits filed against the makers of Tylenol and generic acetaminophen.
California regulators are preparing to vote on new rules for turning recycled wastewater into drinking water.
Hackers accessed Xfinity customers’ personal information by exploiting a vulnerability in software used by the company, the Comcast-owned telecommunications business announced this week.
Some folks want to leave the cold for a quick getaway. Bobby Laurie, travel expert, joined Cheddar News to provide tips on how and when to look for a winter escape.
Julia Pollak, chief economist with ZipRecruiter, joined Cheddar News to provide tips on navigating a job loss and explain the benefits of working with a recruiter to find new employment.
A pair of sneakers that were made for director Spike Lee sold for more than $50,000 at auction.
