Facebook has once again demonstrated its 💪robust business abilities.
The social media giant’s latest quarterly profit📈 has nearly doubled to reach $5.2 billion.
The company’s revenue💰 was $18.7 billion during this period.
The number of people using the platform🤳 each month has also risen and has now reached 2.7 billion.
Facebook’s usage has surged during the ongoing pandemic, as people forced to stay at home have been using it to virtually connect with friends and relatives.
The monthly number of users of Facebook’s “family” of apps which includes WhatsApp and Messenger is now over 3 billion each😎.
Significantly all this growth has come despite the severe economic downslide brought on by the Covid-19 pandemic😷 and a boycott🚫 by the advertisers.
More on it
Lately, over 900 companies and organizations have decided to boycott Facebook with an aim to ☝️pressurize it to act against toxic and hateful content👿 on its platform.
They have rejected✋ Facebook’s claims that it is taking concrete steps to curb this menace.
They have vowed to continue their campaign because as per them, Facebook’s top executives👨🏻💼 have failed to take any meaningful action over this issue.
“Don’t clip our wings”
Recently, many regulators have asked for curbs to be put on the practice of target advertising🎯 by the firms.
However, Facebook’s founder and chairman, Mark Zuckerberg has expressed his displeasure😠 over them.
He has argued that it would hurt businesses’ efforts to try to connect🤝 with customers, especially during the ongoing economic downturn.