Why Facebook Stock Jumped 33% in 2020
Shares of Facebook (NASDAQ: FB) climbed 33% last year, according to data provided by S&P Global Market Intelligence. The social media titan saw its user base and engagement levels rise during the coronavirus pandemic, as people sought ways to remain in contact with family and friends while staying safe.
Facebook's daily active users increased by 12% year over year to 1.8 billion in the third quarter. Across its entire family of apps -- which includes Instagram, WhatsApp, and Messenger -- the social media giant's monthly active users rose 14% to a staggering 3.2 billion.
That helped to drive a 22% jump in revenue to $21.5 billion. Net income, meanwhile, surged 29% to $7.8 billion, or $2.71 per share.
Source Fool.com
