social network

Facebook Surges On User Growth In Pandemic

May 1, 2020 4:58 pm

Facebook on Wednesday reported a sharp jump in usage as the global pandemic unfolded, in a quarterly update that sparked a rally in shares of the social network despite its warning of turbulence in the coming months.

Shares climbed some 10 percent after Facebook reported a profit of $4.9 billion on revenue that grew 17 percent to $17.4 billion during the first three months of this year.

Chief executive Mark Zuckerberg vowed to keep pouring money into social networking “needs” revealed by the crisis despite uncertainty about the impact of the health emergency on the economy and its business.

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Facebook Revenue Slips As Usage Leaps During Pandemic

March 25, 2020 5:51 pm

Facebook on Tuesday said the coronavirus pandemic has users flocking to its services while it undermines ad revenue on which the world’s biggest social network depends.

Online voice and video calls at Facebook-owned Messenger and WhatsApp have more than doubled in places hit hard by the new coronavirus, according to a post by vice president of analytics Alex Schultz and Jay Parikh, vice president of engineering.

“As the pandemic expands and more people practice physically distancing themselves from one another, this has also meant that many more people are using our apps,” Parikh and Schultz said.

Much of the increased …