Facebook's revenues surge in first quarter
Facebook's data privacy scandals have had little effect on its profitability as the social media giant posted record revenues for the first quarter of 2018.
The company made 12 billion US dollars in revenue in the first three months of the year, up by 49 percent from the previous year. Facebook also added more than 70 million monthly users during the first three months of the year, bringing its overall user base to 2.2 billion, up from 2.13 billion at the end of 2017.
"Despite facing important challenges, our community and business are off to a strong start in 2018," said Facebook founder and CEO, Mark Zuckerberg in a statement.
Facebook became embroiled in a massive data privacy scandal following the revelation that the personal data of millions of Americans were harvested and improperly shared with UK based political consultancy firm Cambridge Analytica.
However, Facebook's user figures indicate that the scandal had little effect, with daily active users rising to 1.5 billion, which is 48 million more than the previous quarter.
(With inputs from IANS)
