Facebook Profit Hits An All-Time High, Unaffected By Recent Scandals

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Facebook CEO Mark Zuckerberg speaks during the Oculus Connect 4 product launch event in San Jose, California, on Oct. 11, 2017. MUST CREDIT: Bloomberg photo by David Paul Morris.

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

{Matzav.com}

1 COMMENT

  1. It is obvious that everyone understands as soon as you open your computer to read, give an opinion, do research, etc. you are opened for observation of another. So with all that ridiculous scandals, investigation, etc. it appears only congress doesn’t get it and all the rest of the little people understand it. Or maybe congress was bored of just hanging around doing nothing day after day and for at least a few days they kept busy by those ridiculous interviews and showing concern was a good play. Just as observation!

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