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Friday, 27 April 2018

FACEBOOK GROWS USERS, POSTS 48.9% REVENUE GROWTH IN Q1 2018

Mark Zuckerberg Facebook founder and CEO.


Embattled social-media giant, Facebook has released its Q1 2018 ended March 31, 2018, financial report. The result shows a 48.9% growth in revenue from $8.03 billion in Q1 2017 to $11.98 billion in Q1 2018.
Despite Facebook’s image crisis caused by its involvement with Cambridge Analytica, a data analytics consultants that work for politicians across Europe, Africa, and America, its revenue from advertising grew by 50% from $7.86 billion in Q1 2017 to  $11.8 billion Q1 2018.
Its earnings per share also increased by 63% from $1.04 in Q1 2017 to $1.69 Q1 2018.
Mark Zuckerberg, Facebook founder, and CEO acknowledge huge challenges the business is facing. In his words:
“WE ARE TAKING A BROADER VIEW OF OUR RESPONSIBILITY AND INVESTING TO MAKE
SURE OUR SERVICES ARE USED FOR GOOD. BUT WE ALSO NEED TO KEEP BUILDING NEW TOOLS TO HELP PEOPLE CONNECT, STRENGTHEN OUR COMMUNITIES, AND BRING THE WORLD CLOSER TOGETHER.”


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