Facebook’s sales jump, but social network warns of ‘uncertainty’

Facebook Inc’s fourth-quarter sales jumped 33%, with online shopping during the pandemic fueling demand for digital ads on its social networks. Still, the company warned of “significant uncertainty” in 2021, and said it may not be able to grow as quickly in the second half.

Quarterly revenue was $28.1 billion, the Menlo Park, California-based company said Wednesday in a statement. That compared with the $26.4 billion average analyst estimate in a Bloomberg survey. Facebook now has 2.8 billion monthly users, beating the average prediction of 2.76 billion, as more people spend time on their phones while unable to gather or travel during Covid-19-related shutdowns.