Facebook weathers first stage of pandemic as usage jumps
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Facebook on Wednesday reported a jump in usage and higher revenues as the global pandemic unfolded, sparking a rally in shares even as the social network warned of an uncertain outlook.
Facebook shares jumped more than 10 percent after the leading social network reported profit of $4.9 billion on revenue that grew 17 percent to $17.4 billion during the first three months of this year.
Ranks of monthly active users grew 10 percent to 2.6 billion for its core social network
"With people relying on our services more than ever, we're focused on keeping people safe, informed and connected," Facebook chief and co-founder Mark Zuckerberg said.