Facebook recorded a nearly 50 percent rise in revenue year-on-year in Q1 due to increased advertising gains, but warned the rise will probably be short-lived as a recent rollout of ios privacy changes is expected to cloud its target ads.
Revenue of $26.2 billion was up 48 percent, with adverts accounting for $25.4 billion. Facebook cited a 30 percent rise in average ad prices and a 12 percent rise in the number delivered as the main drivers of the growth.
But the company warned its current quarter would be negatively impacted by the iOS 14.5 update, which allows users to opt-out of ad targeting.
CEO Mark Zuckerberg said Facebook will invest in “new and meaningful experiences” in AR, VR, commerce, and content creation.
During Q1, average daily active users rose 8 percent to 1.88 billion, with the monthly figure up 10 percent to 2.85 billion.
Net income of $9.5 billion was up 94 percent.
