• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less

1

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Tech

Facebook’s moneymaking machine is still humming despite bad news headlines

By
Jonathan Vanian
Jonathan Vanian
Down Arrow Button Icon
By
Jonathan Vanian
Jonathan Vanian
Down Arrow Button Icon
October 25, 2021, 4:57 PM ET
Add Fortune on Google for similar content.

Amid a deluge of devastating news stories, Facebook is still making lots of money.

Facebook said Monday that it brought in $29 billion in revenue in the third quarter, a 35% gain from the $21.5 billion it earned during the same period a year earlier. That was slightly lower than analyst expectations of $29.6 billion. 

Meanwhile, Facebook’s third-quarter profits grew 17% year over year to $9.2 billion.

Facebook shares rose 2.2% in after-hours trading to $335.89 as investors discounted another news nugget: The company’s plans to expand its virtual reality unit, which underpins a far-flung “metaverse” initiative, will reduce overall operating profit by $10 billion in 2021.

The social media giant has spent the past few weeks dealing with arguably its biggest crisis since the Cambridge Analytica scandal in 2018. In late September, Facebook whistleblower Frances Haugen shared a trove of internal documents with the Wall Street Journal and lawmakers that detailed internal research about the negative effects of the company’s various services on society, such as contributing to poor mental health for some teenage girls. 

Haugen later testified in front of lawmakers calling Facebook “morally bankrupt” and that it failed to remedy its alleged problems out of fear that major fixes would curtail its growth. Facebook has denounced Haugen’s claims, with Zuckerberg writing in a Facebook post: “At the heart of these accusations is this idea that we prioritize profit over safety and well-being. That’s just not true.”

On Monday, news outlets revealed more internal Facebook research, with some of the studies showing that teenagers and young adults are losing interest in the company’s service, which is noteworthy because Facebook values that demographic. The newly released research also detailed how the company failed to account for the wave of misinformation and hate speech that flourished in countries like Afghanistan and Myanmar as it looked to spur growth worldwide. 

Facebook has denied that it prioritizes engagement over safety.

The company is also reportedly seeking a name change as part of a corporate rebrand, likely intended to distance itself from its bad reputation. There was no immediate mention of that.

In addition to its financials, the company on Monday also reported that it had 2.9 billion monthly active users as of September 2021, slightly below analyst projections of 2.93 billion.

This article will be updated from the company’s call with analysts.

More tech coverage from Fortune:

  • Thera-who? These biotech firms are looking to push what’s possible with blood
  • Teens have been losing interest in Facebook for years, data shows
  • Crypto project Worldcoin wants to give you coins in exchange for an eye scan
  • Lucid Motor’s Air EV finally hits the roads with a range that blows Tesla away
  • How Facebook whistleblower Frances Haugen became the company’s worst nightmare

Subscribe to Fortune Daily to get essential business stories straight to your inbox each morning.

About the Author
By Jonathan Vanian
LinkedIn iconTwitter icon

Jonathan Vanian is a former Fortune reporter. He covered business technology, cybersecurity, artificial intelligence, data privacy, and other topics.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Lux Capital cofounder Josh Wolfe’s limited-odds, high-stakes 2027 predictions
NewslettersTerm Sheet
Lux Capital cofounder Josh Wolfe’s limited-odds, high-stakes 2027 predictions
By Allie GarfinkleJune 25, 2026
3 hours ago
Micron drives global rally tech stock rally as traders abandon their fear of an AI bubble
InvestingMarkets
Micron drives global rally tech stock rally as traders abandon their fear of an AI bubble
By Jim EdwardsJune 25, 2026
3 hours ago
OpenAI CEO Sam Altman (left) and Broadcom CEO Hock Tan holding their new AI chip, “Jalapeño.” (Photo courtesy OpenAI)
NewslettersFortune Tech
OpenAI and Broadcom’s AI chip has a name: Jalapeño
By Andrew NuscaJune 25, 2026
3 hours ago
What bubble? JPMorgan says the $5.5 trillion AI capex explosion is profitable–for now
AIFinance
What bubble? JPMorgan says the $5.5 trillion AI capex explosion is profitable–for now
By Sheryl EstradaJune 25, 2026
3 hours ago
Jen Wong, chief operating officer at Reddit, speaks during the OMR digital and marketing trade fair
Big TechReddit
Reddit COO targets 1 billion users as internet’s ‘odd duck’ aims for new heights
By Sam BirchallJune 25, 2026
4 hours ago
Man in a suit and tie
InvestingAmazon
Bill Ackman, David Tepper, and other billionaire fund managers are quietly piling into Amazon
By Amanda GerutJune 25, 2026
6 hours ago

Most Popular

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
1 day ago
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
Economy
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
1 day ago
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Retail
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
By Nick LichtenbergJune 24, 2026
22 hours ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
24 hours ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
2 days ago
Trump’s international student crackdown kicked off a domino effect that could shave nearly $500 billion off the economy
Economy
Trump’s international student crackdown kicked off a domino effect that could shave nearly $500 billion off the economy
By Tristan BoveJune 24, 2026
19 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.