MILANO – Facebook confirms the trend that has already emerged with the publication of the first quarterly reports by Big tech (Microsoft, Google and Apple): the digital push of the pandemic has allowed it to record business in strong growth, but the market notes above all the warnings on the fact that such expansion rates cannot be confirmed. The social network closed the second quarter above analysts’ expectations, with net profit doubling to $ 10 billion and revenues up 56% to $ 29.07 billion. Active users were up 7% to a daily average of 1.91 billion. To push these numbers was advertising, which companies have aimed online in response to the forced digitization of recent months, but also Whatsapp and Instagram have given their contribution with the growth of purchases from the App.
Yet the stock, in the post-market on Wall Street, paid off that management expects there to be a “significant” slowdown in the second half of 2021. The stock has grown 37% this year and, as in other cases, the market is preparing to correct the trend as soon as the pace slows down.
The social network has published the quarterly accounts just as technology companies – as well as all the US – are grappling with the increase in infections due to the Delta variant. And as President Biden is preparing to do for federal workers, even in the tech giants the request to be vaccinated to work in the office is taking hold, while delaying the return plans that were initially focused on returning to normal since September. Just Facebook has made it known through a spokesperson that the reopening of the American campuses of the social network will require the vaccination certificate to access in presence. Protocols will be provided for those who cannot get vaccinated for health reasons, as well as how to behave in the other regions where it is present according to local regulations.
The social network expects that work will return to presence at 50% from September, and then go to full capacity the following month; but Facebook is also the company that gave the opportunity to apply for permanent smart working and Zuckerberg himself, the founder and CEO, said he expects that half of the employees will be remotely in the next decade.
With the vaccination obligation for work in the presence, Facebook is in the wake of Google which has also set this condition, in addition to having postponed the return schedule for a month (from September to October, as did Apple). Google chief Sundar Pichai explained to employees that “getting vaccinated is one of the most important ways to protect yourself and the community in the coming months”, guaranteed solutions for those who can’t do it for medical reasons and invited those who don’t want to stay there. home to work and contact the staff to evaluate possible scenarios.
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