The crisis of public trust confronting Facebook has yet to affect the company’s bottom line – at least for the time being.
On Wednesday, Facebook said its first-quarter revenue, which is dominated by advertising, grew by 49 percent to $12 billion. Net profit jumped 65 percent from the same period a year earlier to $4.9 billion.
Despite many users saying they deleted Facebook as the result of a privacy scandal that erupted in mid-March, 3.4 percent more people logged on each day in March than in the previous quarter. It’s possible that the effect of deletions and other fallout will be more notable in the second quarter.
“Despite facing important challenges, our community and business are off to a strong start in 2018,” Mark Zuckerberg, Facebook chief executive, said in a statement.
(c) 2018, The Washington Post · Elizabeth Dwoskin