Facebook continues to prosper from an increase in demand for online advertising, which drove up the average price of its ads by 47% year on year in the second quarter of 2021.
Advertising revenue grew by 56% to $28.6bn (£20.5bn) in the three months ended 30 June, contributing to a doubling (101% growth) of Facebook’s net income to $10.4bn.
But the social-media giant said it expects revenue growth in the third and fourth quarters to “decelerate significantly”.
While it said it expects the price of ads to continue to increase throughout the rest of 2021, Facebook is also bracing for ad targeting headwinds in 2021, primarily triggered by Apple’s IDFA (identifier for advertisers) sh
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