⁍ Facebook on Thursday warned of a tougher 2021 despite beating analysts’ estimates for quarterly revenue.

---

⁍ The world’s biggest social media company said in its outlook that it faced ‘a significant amount of uncertainty’
It cited impending privacy changes by Apple and a possible reversal in the pandemic-prompted shift to online commerce.

---

– Facebook beat analysts’ earnings and revenue estimates in the third quarter, but the company warned that things will get tougher in the years to come, Reuters reports. The company said in its outlook that it faced “a significant amount of uncertainty” due to upcoming privacy changes by Apple and a possible reversal in the shift to online commerce. “Considering that online commerce is our largest ad vertical, a change in this trend could serve as a headwind to our 2021 ad revenue growth,” it said. Facebook’s total revenue rose 22% to $21.47 billion from $17.65 billion in the third quarter ended Sept. 30, beating analysts’ estimates of a 12% rise, according to IBES data from Refinitiv. Facebook’s total revenue, which primarily consists of ad sales, rose 22% to $21.47 billion from $17.65 billion in the third quarter ended Sept. 30, with monthly active users rising to 2.74 billion. Analysts had expected a profit of $1.90 per share. Facebook continued to grow its user base, with monthly active users rising to 2.74 billion, compared with estimates of 2.70 billion according to the IBES data, although user numbers declined in North America compared to the second quarter. The company projected that trend would continue for the rest of the year, with user numbers either flat or slightly down in the fourth quarter compared to the third quarter. “It appears that investors are disappointed that despite user growth jumping across most regions during the quarter, the social media platform reported a decrease in users in North America,” an analyst at Investing.com tells Reuters.