Facebook reported a decline of 2 million daily active users in the US and Canada

• Facebook's US and Canada daily user base dropped to 196 million for the third quarter, compared to 198 million for the second quarter, the company said in its earnings release Thursday.
• Facebook's monthly active users also dropped, by one million, down to 255 million from 256 million the previous quarter.
• "As expected... we saw Facebook DAUs and MAUs in the US & Canada decline slightly from the second quarter 2020 levels which were elevated due to the impact of the COVID-19 pandemic," CFO Dave Wehner said in the release.
• Facebook saw its US and Canada user base jump from 195 million in the first quarter to 198 million in the second quarter as more people spent time online and using social media during initial months of the pandemic.
• Facebook expects a further decline in Q4.

Facebook's number of daily active users in the US and Canada declined by 2 million for the third quarter, dropping to 196 million from 198 million in the second quarter, the company said Thursday.

Facebook's monthly active users also dropped by one million, down to 255 million from 256 million the previous quarter.

In a press release, Facebook CFO Dave Wehner said the decrease came after a spike in users during the early months of the coronavirus pandemic.

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"As expected, in the third quarter of 2020, we saw Facebook DAUs and MAUs in the US & Canada decline slightly from the second quarter 2020 levels which were elevated due to the impact of the COVID-19 pandemic," he said.

Facebook reported 195 million daily users in the US and Canada in the first quarter, before seeing that number jump to 198 million in the second quarter, while monthly active users increased from 253 million to 256 million from Q1 2020 to Q2 2020. Americans' and Canadians' social media usage spiked during initial stay-at-home orders, but has tapered off in recent months.

Wehner said Facebook expects "this trend to continue" into the fourth quarter and that daily and monthly active users will likely "be flat or slightly down compared to the third quarter of 2020."

Facebook announced better-than-expected revenue Thursday for its third-quarter earnings. The company generated around $21.5 billion in revenue in Q3 2020, up 22% year-on-year, showing the company is starting to recover from the coronavirus-related economic downturn, though Facebook's stock dipped slightly in after-hours trading.