Facebook quarterly revenue beats estimates

Facebook Inc beat analysts' estimates for quarterly revenue on Thursday, as more businesses used its digital advertising tools during a pandemic-induced surge in online traffic. 30, beating analysts' estimates of $19.82 billion, according to IBES data from Refinitiv. Monthly active users rose to 2.74 billion, compared with estimates of 2.70 billion.

Facebook Inc beat analysts' estimates for quarterly revenue on Thursday, as more businesses used its digital advertising tools during a pandemic-induced surge in online traffic. Revenue growth at Facebook, the world's second-biggest seller of online ads after Alphabet Inc's Google, has been growing despite an unprecedented advertising boycott and a coronavirus-triggered recession.

A July advertising boycott, which drew the support of major advertisers including Unilever, Starbucks Corp and Coca-Cola Co, sought to pressure Facebook to take more action against hate speech. Total revenue, which primarily consists of ad sales, rose to $21.47 billion from $17.65 billion in the third quarter ended Sept. 30, beating analysts' estimates of $19.82 billion, according to IBES data from Refinitiv.

Monthly active users rose to 2.74 billion, compared with estimates of 2.70 billion. Net income came in at $7.85 billion, or $2.71 per share, compared with $6.09 billion, or $2.12 per share, a year earlier.