Facebook, Inc. reported on Wednesday (Jan. 27) as part of its Q4 and full year 2020 earnings that total revenue surged 33 percent year-over-year for the three months ended Dec. 31, 2020.
The social media company reported $27.19 billion in advertising revenue for the quarter, marking a 31 percent year-over-year rise.
Drilling down into numbers reported in financial supplements that accompanied the earnings release, Facebook said that monthly active users (MAU) were 2.8 billion as of Dec. 31, 2020, up 12 percent year over year. The daily active user count (DAU) was 1.84 billion for December 2020, up from 1.66 billion in the year-ago period.
Facebook reported family monthly active people (MAP) of 3.3 billion as of Dec. 31, 2020, marking a rise of 14 percent year-over-year. Additionally, the company reported family daily active people (DAP) of 2.6 billion on average for December 2020, marking a 15 percent year-over-year rise.
Facebook Chief Operating Officer Sheryl Sandberg noted on the call with analysts that Facebook rolled out a new shop tab on Instagram in Q4.
“We’ve always been … a great place for people to discover new products and services, but we are very interested in taking people all the way down that funnel from discovery to purchase to finding products and services to checking out as well. And our shopping efforts are part of that. We’re seeing nice uptick. It’s still really early days. But we think businesses are having a good experience and people are having a good experience,” Sandberg said on the call.
Facebook had $61.95 billion in cash and cash equivalents and marketable securities as of Dec. 31, 2020. The company had a headcount of 58,604 as of Dec. 31, 2020, marking a 30 percent year-over-year rise.
All in, Facebook reported diluted earnings per share (EPS) of $3.88 on revenue of $28.07 billion. The results handily exceeded analyst estimates of $3.22 earnings on $26.43 billion in revenue.
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