Despite Data Leak Scandal, Facebook Profit Increases
Facebook recorded a significant increase in profits in the first quarter of 2018, thanks to a growing user base and bigger revenues from ads as the social media giant seems to suffer neither harm nor backlash after the recent data leak of over 87 million Facebook users.
The profits the Silicon Valley-headquartered company recorded in the first quarter of this year soared by over 63% from last year to $5 billion, while total revenues witnessed an increase of 49% to $11.97 billion, according to earning figures shared by the company.
Facebook’s CEO Mark Zuckerberg, who despite spending most of the last month under pressure from the international community following the news of his company failing to protect data of millions of users from a third-party app, shared a message to investors ...