Facebook’s capability to generate pails of ad income frankly makes its earnings reports a bit … boring. The

company shared results for Q1 on Wednesday. Marketing revenue for the first quarter was up 46% year-over-year to $25.4 billion dollars, accelerating across all areas. Typical profits per user in the United States and Canada clocked in at $48.04. It was $34.18 in the year-ago quarter.

Usage was likewise up (etcetera, etcetera). Almost 3.5 billion people utilized at least one Facebook app or service since the end of March, a 15% increase.

And the stock popped in after-hours trading, rising more than 6%.

Not that anybody has mixer any longer, however here are a few main takeaways from the call in case it comes up during a Zoom happy hour.

Marketer need was better than anticipated.

The total number of ad impressions in Q1 that were served throughout Facebook’s services increased 12%, while the typical cost per advertisement increased by 30%.

Advertisement prices was generally driven by Facebook lapping depressed pricing levels from the start of the pandemic.

According to Dave Wehner, Facebook’s CFO, cost will continue to be a huge chauffeur of revenue growth as the economy begins to resume and people begin choosing themselves up off the couch.

“Broadly what we’re seeing are engagement trends that are returning to a more normalized level,” Wehner stated. “In the first quarter of 2020, we saw a substantial boost in engagement as a result of the pandemic and we have actually seen some of those trends decrease as the year advanced.”

To put it simply, Facebook CPMs are only going to get more expensive in 2021.

Facebook is rolling with the iOS 14.5 punches.

Apple’s iOS 14.5 privacy modifications came up on the call, obviously, and Facebook COO Sheryl Sandberg valiantly defended individualized advertising.

“It’s on us to keep making the case that personalized advertising is good for people and organizations and to much better explain how it works so that individuals realize that customized ads are personal privacy protective,” Sandberg stated.

Considering Facebook’s history, it might not be the most reputable character witness to proclaim the virtues of individualized advertising.

Regardless, Facebook is doing what it can to mitigate the impact of iOS 14.5, Sandberg stated, noting that it’s “restoring significant aspects of our advertisement stack so that our system continues to carry out when we have access to less data in the future.”

One example is Facebook’s Aggregated Occasions Measurement API which allows for the measurement of web occasions from iOS 14 users by aggregating performance data at the project level.

However in spite of targeting headwinds, advertisement need stays strong, Wehner stated, which is contributing to a more positive outlook for 2021.

The quarters to come …

Facebook is anticipating that 2nd quarter revenue will remain steady YoY or decently accelerate relative to the growth rate this quarter. Ad earnings growth will continue to be primarily driven by cost for the remainder of the year.

The third and 4th quarters will get a little dicey, though, as year-over-year earnings development rates “considerably slow down sequentially” as Facebook lap periods of significantly strong growth

But that’s not the only factor.

“We continue to anticipate increased advertisement targeting headwinds in 2021 from regulatory and platform modifications,” Wehner stated, indicating iOS 14.5 and continued uncertainty associated to the viability of transatlantic information transfers to and from Europe. “This is factored into our outlook.”