Facebook shares jump after reporting ‘signs of stability’
The company’s services are being used a lot more as millions of people in lockdowns look for entertainment
30 April 2020 - 00:37
San Francisco — Facebook reported an 18% increase in first-quarter revenue on Wednesday, showing advertising demand was strong before the Covid-19 pandemic hit marketing budgets. The company also said business was steady in the first few weeks of April, sparking a surge in its shares.
The social-networking company said sales came in at $17.7bn in the first quarter, ahead of Wall Street estimates of $17.3bn, according to data compiled by Bloomberg. The results include just a few weeks in March when coronavirus lockdowns began to hammer the economy...
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