Facebook's business continues to fire on all cylinders, even as the company faces growing scrutiny from regulators over its acquisitions and from critics for the role its platform may have played in spreading lies about the US presidential election.
The company said Wednesday that it posted a profit of $11.2 billion in the final three months of last year, an increase of more than 50% from the year prior. Facebook's revenue rose 33% to roughly $28 billion during the quarter, showing the durability of its core advertising business despite the pandemic.
When combining Facebook's various apps, including Instagram, Messenger and WhatsApp, the company reported 3.3 billion monthly active users, an increase of 14% year-over-year.
Facebook CEO Mark Zuckerberg said in a statement:
We had a strong end to the year as people and businesses continued to use our services during these challenging times."
While Facebook ended the year on a strong note, it once again warned of challenges for the year ahead, including "the "evolving regulatory landscape" as well as looming iPhone software changes that it expects will hurt its advertising business.