Facebook on Wednesday announced its fiscal 2021 second quarter results with $29 billion in revenue, representing a 56% year-over-year growth. With faster growth than Apple and Microsoft during the same period, it seems that Facebook hasn’t been affected by the privacy changes introduced with iOS 14.5 — at least for now.
More impressive than Facebook’s total revenue during Q2 FY2021 is the profit, which grew 101% to $10.4 billion. The company reported that the number of active users on Facebook, Instagram, and WhatsApp increased by 12% when compared to last year, now with 2.76 billion people being daily active on these apps.
“We had a strong quarter as we continue to help businesses grow and people stay connected,” said Mark Zuckerberg, Facebook founder and CEO. “I’m excited to see our major initiatives around creators and community, commerce, and building the next computing platform coming together to start to bring the vision of the metaverse to life.”
As you may know, Facebook’s main revenue comes from advertisements, and the company had a 47% year-on-year growth in this segment. This comes after Apple announced significant changes to the iOS privacy guidelines earlier this year, which now require developers to ask users whether or not they want to be tracked by third-party apps.
Facebook has been taking a stand against Apple’s decisions since iOS 14.5 was introduced, but the company wasn’t as affected by the privacy changes in iOS last quarter. However, this doesn’t mean that Facebook is not worried about what comes next. As noted by The Verge, Facebook CFO David Wehner mentioned that the company expects a larger revenue impact in the third quarter due to “regulatory and platform changes, notably the recent iOS updates.”
Of course, this is due to more users opting out of being tracked by apps as they update their devices to the latest versions of the operating system. A recent research showed that about 25% of iOS users have already disabled tracking in third-party apps, and this number will probably be even higher by the end of the year.
You can read the full report on Facebook’s Q2 FY2021 revenue on the Facebook Investor Relations website.