Despite being engulfed in several scandals of late—especially the widely-publicized Cambridge Analytica scandal that resulted in its founder having to testify before Congress—Facebook reported its second-largest quarter ever in terms of revenue generated in the first quarter of 2018, and the majority of this revenue is attributable to advertising.
Twitter also reported its strongest quarter ever in the fourth quarter of 2017, posting its first-ever quarterly profit and defying analysts’ expectations. According to Twitter management, “stronger advertiser demand” played a major role in its revenue growth.
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