Why Facebook is still great value

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Social media companies were big beneficiaries of the COVID-19 pandemic. Naturally, having consumers confined to their homes meant more time spent in front of screens. This really showed up in the numbers, with most companies in the sector experiencing a spike in monthly active users on their platforms. Facebook (NASDAQ: FB) converted this tailwind into a huge earnings boost, but not simply because it had strong increases in users or even revenue. The company also managed its growth in costs really well, putting its operational wherewithal on full display. It could draw some key lessons from this period, and run a slightly…