Inside Track
Microsoft, Google, and Facebook See Record Earnings Amid Pandemic
Facebook and Google join Microsoft in reporting significant growth in revenue in the first quarter of 2021 as Americans’ increased reliance on technology amid lockdowns has proven a fertile ground of business opportunity for these tech giants.
Facebook’s stock climbed to record territory on April 28 thanks to a major spurt in ad revenue. The company said it earned $9.5 billion, or $3.30 per share, in the January-March period, up 94 percent from $4.9 billion, or $1.71 per share, a year before. Revenue, meanwhile, grew 48 percent to $26.17 billion from $17.44 billion.
The company had 2.85 billion monthly users on average in March. That’s up 10 percent from a year earlier. The Facebook family of apps — Facebook, Instagram, and WhatsApp — had 3.45 billion monthly users in March. That figure represents the number of people who logged in to at least one of the apps during the month.
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