(Bloomberg) — 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.On March 24, Facebook warned that its advertising business was “weakening.” The company does …read more
Source:: Yahoo Finance
