Business Standard

Facebook posts record USD 6.9 billion in profit despite controversies

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ANI Internet
Despite numerous scandals, Facebook is making more money than ever. The company posted its quarterly revenue report underlining record profits.
Facebook revenue in Q4 hit USD 16.9 billion, up by 30 per cent compared to last year. It also posted record profits of USD 6.9 billion, up by 60 per cent from previous year, Mashable reports.
During the earnings call, Facebook also announced that it gained more users. However, the company will no longer focus on Facebook statistics and will start focusing on the entire family of apps to collectively report on them.
Nonetheless, the main social network witnessed strong growth in Asia, credit goes to India and Philippines in particular.
Last year, Facebook was embroiled in the Cambridge Analytica scandal in which millions of users had their privacy sabotaged. While the incident did bring Facebook global damage in terms of reputation, it is clearly no indication of the #DeleteFacebook movement having any impact.

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First Published: Jan 31 2019 | 12:22 PM IST

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