Facebook generates revenue worth $28 billion in fourth quarter of 2020

NEW YORK (Web Desk) - Facebook, the largest social networking site in the world, has released data for the fourth quarter of 2020 according to which about 2.6 billion people use Facebook on a daily basis daily.

According to an article by Tech Crunch, Facebook's revenue in the fourth quarter reached $28 billion, which is 33% more than the year before. Per the data, the overall profit for the company was more than $11 billion, which was more than 53% more than the previous year.

Facebook's statistics show that despite various controversies and the pandemic in 2020, Facebook has managed to attract new users in the last quarter of the year.

Data shows that the number of daily Facebook users in the fourth quarter stood at 1.84 billion and 2.8 billion monthly, an increase of 11% and 12% over the year, respectively.