Increase in Facebook usage during the Corona crisis

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Facebook announced a significant increase in the use of this network, with the spread of the Covid-19 epidemic in the world, and the publication of the results of the first quarter of the year, but warned of an unprecedented “uncertainty” with regard to the future.Chief Executive Mark Zuckerberg pledged to continue pumping money to secure the “needs” of the social media website revealed by the crisis, despite the uncertainty about the impact of the health crisis on the economy in general and his company in particular.

He said that three billion people now use, at least once, one of the four platforms of the group “Facebook”, “Instagram”, “WhatsApp” and “Messenger”. However, the company cautioned about “uncertainty” about the future of its business as a result of the Covid-19 epidemic.

The site indicated that it witnessed a “significant decrease” in the demand for ads, in addition to a decline in advertising prices during the last three weeks of the first quarter of the year. The social media network said that the sharp fall in advertising revenue in March was followed by some signs of stability. Advertising revenue, the largest part of Facebook’s total revenue, was relatively flat in April, compared to the same period last year, according to the site.The share price of “Facebook” increased about 10% after it revealed profits amounting to $ 4.9 billion from revenue that increased by 17% to reach $ 17.4 billion during the first three months of this year.

The California-based company noted that use of the social network may decrease slightly while loosening the restrictions.

Like other major technology companies, Facebook’s role during the current health crisis has become more prominent, because it helps users communicate and seeks to remove wrong information about the Corona pandemic.

(AFP)





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