Facebook shares jump on user surge
The number of monthly active users grew 10% to 2.6 billion for Facebook as many people are stuck at home during lockdowns. – AFP pic, April 30, 2020.
FACEBOOK yesterday reported a sharp jump in usage as the global pandemic in a quarterly update that sparked a rally in shares of the social network despite its warning of turbulence in the coming months. Shares climbed some 10% after Facebook reported a profit of US$4.9 billion on revenue that grew 17% to US$17.4 billion during the first three months of this year.
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