Facebook reports a blowout first quarter, seems impervious to data and privacy problems
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Facebook, which has been under intense scrutiny for privacy and data issues, had a blowout fourth quarter, easing, for now, concerns that the onslaught of negative media from stories about sharing user information with third parties and data breaches could harm its business.
The company’s ad revenue rose 38 percent year over year to a record $16.64 billion in the quarter, with a record $6.8 billion in profits. User growth proved resilient, too, ending the quarter with 1.52 billion daily users on the main app, and an increase of 9 percent year over year, and more than 2 billion people use one of its services daily, which was the same general number Facebook provided in the third quarter.
Facebook Stories, which is starting to take hold beyond Instagram, looks increasingly like a bright spot for the network.
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