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Facebook Recorded Pandemic-Fueled Profit Boost

Facebook Recorded Pandemic-Fueled Profit Boost

Social media giant Facebook reported a profit jump in the last three months of 2020, as disclosed by the company.

It stated that it made a total profit of $11.2 billion on a $28 billion revenue, accounting for 53 percent and 33 percent growth against last year’s report of the same period.

Facebook chief Mark Zuckerberg said that users turned to the app more during the pandemic.

He said, “We had a strong end to the year as people and businesses continued to use our services during these challenging times.”

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The company added that at the end of December 2020, some 2.8 billion people used Facebook, while 3.3 billion people used other apps under the Facebook umbrella including Messenger, WhatsApp, and Instagram.

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Kindness Udoh is a writer and media enthusiast with vast experience in journalism, copywriting, and features across beats. He also has professional certifications in creative writing. You can reach him via [email protected]

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