Facebook’s rise in profits, users shows resilience after scandals
Facebook’s rise in profits, users shows resilience after scandals
Facebook’s rise in profits, users shows resilience after scandals. Facebook shares rose on Wednesday after the social network reported a surprisingly strong 63% rise in profit and an increase in users, with no sign that business was hurt by a scandal over the mishandling of personal data.
Facebook’s quarterly profit beat analysts’ estimates, as a 49% jump in quarterly revenue outpaced a 39% rise in expenses from a year earlier. The mobile ad business grew on a push to add more video content. Facebook said monthly active users in the first quarter rose to 2.2B, up 13% from a year earlier and matching expectations. Read more here.
