Facebook’s earnings report for the first quarter of 2018 surpassed all expectations. The social giant reported $4.99 billion in quarterly profits and $11.97 billion in quarterly revenue. While Facebook has been consistently posting strong earnings, two things made this particular earnings report worthy of note:
- A key percentage of its earnings came from its ads platform—advertiser interest and price of ads grew as it has been growing in past quarters.
- Facebook has recently been engulfed by the Cambridge Analytica scandal, even requiring CEO Mark Zuckerberg to appear before Congress.
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