Facebook with strong jumps in revenue and profit
Facebook continues to grow unabated in the coronavirus pandemic. In the past quarter, revenue rose by around a third year-on-year to just under 28.1 billion dollars. Net income jumped 53 percent to a good $11.2 billion.
The number of users also continued to rise, as the online network announced on Wednesday. At least once a month, 2.8 billion users came to Facebook - around 60 million more than a year earlier. Daily there were 1.84 billion after 1.82 billion in the final quarter of the previous year. In total, 3.3 billion users accessed at least one app from the Facebook group, such as Instagram or WhatsApp, every month.
Cautious outlook
Facebook nevertheless spoke of "significant uncertainties" in the future. During the coronavirus pandemic, the company had benefited from the general boost in online business. However, if this trend reverses, it will also slow the growth of Facebook's advertising revenue. In addition, the online network has already warned that in view of the rapid growth in the second half of 2020, there will foreseeably be lower growth in the current year.
Another factor of uncertainty is the situation surrounding the transfer of data from the European Union. Last summer, the European Court of Justice also overturned the new Privacy Shield agreement. (SDA)
