Facebook (NASDAQ:FB) published a stronger than expected set of Q2 2021 results, with revenue rising 55% year-over-year to $29 billion, and GAAP EPS standing at $3.61, roughly double last year’s number. However, the company expects revenue growth to decelerate over the second half of the year.
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The surge in business over Q2 came as marketers spent more on digital ads to target consumers who are spending more time online through Covid-19. However, Facebook sees some headwinds in the coming quarter, amid regulatory and platform changes, notably Apple’s iOS updates, which could impact its ad targeting capabilities.
Facebook stock declined by about 3.5% in after-hours trading on Wednesday.
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