The Facebook Q3 2021 Report highlights active usage of apps owned by Facebook, the network’s standing in terms of revenue generated, and the announcement of a structural change with reporting earnings.
Advertising revenue for this quarter has decreased by a substantial amount from the previous quarter. While the daily active usage of Facebook remains on the higher end with a slight increase from the last quarter, recently surfaced internal reports suggest that the popularity of Facebook among younger users has been decreasing.
Facebook expects headwinds from uncertainties driven by COVID-19 and Apple’s privacy updates on iOS 14. The company is currently also facing serious harm to its brand reputation following a series of revelations and findings made public by Frances Haugen, a former product manager on the civic integrity team at Facebook.
Also Read: Facebook to rebrand with a new name: Reports
Here are the key takeaways from Facebook Q3 2021 Earnings Report:
- Daily active users on Facebook increased 6% year-over-year and reached 1.93 Bn on average for September 2021
- Monthly active users increased 6% year-over-year and reached 2.91 Bn as of September 30, 2021
- Daily active people on the Facebook family of apps increased 11% year-over-year and was 2.81 Bn on average for September 2021
- Monthly active people on the Facebook family of apps increased 11% year-over-year and was 2.81 Bn on average for September 2021
- Total revenue generated accounts to 29,010 Mn USD, a 56% year-over-year increase
- Advertising revenue accounted for 28,276 Mn USD, a 56% year-over-year increase
- Facebook plans to categorize Facebook Reality Labs (FRL) as a separate reporting segment. In this structure, Family of Apps will include Facebook, Instagram, Messenger, WhatsApp, and other services, and FRL will include augmented and virtual reality related hardware, software and content