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The majority of the company’s revenue, which totaled $29 billion, came from advertising. The company attributed the ad revenue growth to a 47 percent increase in the average price per ad, as well as a 6 percent increase in the number of ads delivered during Q2.
Total revenue bested Wall Street expectations at $29 billion, while net income hit $10.3 billion — a 101 percent increase from the previous year, when the company reported over $5 billion in net income. The social media company’s daily and monthly active users increased by 7 percent for a total of 1.9 billion and 2.9 billion users, respectively, marking a slight decrease from its user growth in Q1.
In the Wednesday earnings report, Facebook said it expected to see “increased ad targeting headwinds” from regulatory and platform changes, most notably Apple’s iOS update that allows users to opt in or out of ad tracking, during the third quarter.
During an afternoon call with investors, Facebook CEO Mark Zuckerberg said he wants to make Facebook the “best place” for creators to make money, with the hope that quality content will follow, and isn’t concerned with trying to convince creators to exclusively post on Facebook. (Earlier this month, the company announced that Facebook and Instagram will pay out $1 billion in creator incentives through 2022.)
“We just want to make it so creators have their best content here,” Zuckerberg said. “It’s not like we fundamentally need to win creators over from another place.”
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