Facebook ad revenues hit by coronavirus even as more people use its services. Image via Quartz.
Technology

Facebook's ad revenue takes a hit due to coronavirus pandemic

Social media giant Facebook has stated that the coronavirus pandemic is hitting its advertising revenue, which accounts for nearly all of the company's earnings, despite the fact that more users are spending time on social media due to being confined indoors. Facebook messaging has increased by over 50 percent in coronavirus-hit countries, but its shares fell heavily.

facebook social-media messaging advertising stock revenue coronavirus pandemic covid-19 earning

Wed Mar 25 - Reuters

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