Skip to content
Subscriber Only

Facebook Surges After Revenue Holds Up in Midst of Pandemic

  • Sales in first three weeks of April in line with a year ago
  • Daily users of company’s apps climb to 2.36 billion in March
Video player cover image
Watch: Debra Aho Williamson, eMarketer analyst, discusses Facebook earnings.(Source: Bloomberg)
Updated on

Facebook Inc. reported an 18% increase in first-quarter revenue, 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 $17.7 billion in the first quarter, ahead of Wall Street estimates of $17.3 billion, according to data compiled by Bloomberg. The results include just a few weeks in March when coronavirus lockdowns began to hammer the economy.