Facebook’s profit doubles in the second quarter and revenue rises 56%, but the company warns that growth will “slow” in the second half

However, according to the company, after the strong result in the last quarter, total revenue growth rates are expected to slow in the coming quarters.

“As we look at growth on a two-year basis, to exclude the effects of a post-Covid recovery, we expect year-over-year total revenue growth to slow modestly in the second half of 2021 compared to the growth rate recorded in the second quarter,” David Weiner, Facebook’s chief financial officer, wrote, in a note.

“We continue to expect an increase in ad targeting in 2021 with regulatory and platform changes, particularly the recent iOS updates, which we expect will have a greater impact in the third quarter than in the past three months. This is taken into account from our perspective,” he added.

The number of Facebook users per month worldwide grew by 7% between April and June, to reach 2.9 billion – in line with expectations. The daily user base of the platform has grown by the same size to reach 1.91 billion.

The total number of employees reached 63,404 on June 30, up 21% over the same period in 2020.

After trading closed on Wednesday, Facebook shares fell 3.5% to $359.78.

In 2021, Facebook shares are up 37%, compared to a 17% rise for the S&P 500 in that period.