Breaking News

ASUS Announces Pro WS Platinum Series Power Supplies Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition Transcend Introduces 8TB Industrial SSD with Power Loss Protection Viltrox announces AF 85mm F1.4 Pro FE Portrait Lens

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Facebook's Revenue Remained High Despite Coronavirus Impact in Ad Spending

Facebook's Revenue Remained High Despite Coronavirus Impact in Ad Spending

Enterprise & IT Apr 30,2020 0

Facebook Inc beat estimates for quarterly revenue on Wednesday and said it has seen “signs of stability” for sales in April after a plunge in March.

The company reported an 18% increase in first-quarter revenue, showing advertising demand was strong before the Covid-19 pandemic hit marketing budgets. The company also said business was steady in the first few weeks of April.

Facebook said advertising revenue was roughly flat in the first three weeks of April compared with the same period last year.

Ad sales, which make up nearly all of Facebook’s revenue, rose 17% to $17.44 billion.

Some businesses ran more ads after the pandemic wiped out Facebook ad pricing over the course of the quarter, contributing to a 39% increase in total ad impressions, executives said.

Chief Operating Officer Sheryl Sandberg told analysts the company saw an increase in gaming ads and steady spending from technology and e-commerce players, which offset “significant declines” in ads from the hard-hit travel and auto sectors.

However, a flat revenue in April indicates that the second quarter will be “more challenging” than the first.

Daily users of all Facebook’s apps, including Instagram and WhatsApp, averaged 2.36 billion in March, up from 2.26 billion in December, the company said. Facebook’s core social network now has 1.73 billion daily users, compared with 1.66 billion during the final month of 2019.

The company said around 3 billion users interacted with at least one of its apps each month in the quarter, up from 2.9 billion last quarter, as social networks use surged during coronavirus lockdowns. Some of that engagement is expected to slip once shelter-in-place orders are relaxed, it said.

Facebook lowered its guidance for total expenses in 2020 to $52 billion-$56 billion, down from a prior range of $54 billion-$59 billion, citing the slower headcount growth and savings from canceled travel, events and marketing.

Total costs for the first quarter rose just 1% to $11.84 billion.

Tags: facebookfinance
Previous Post
Microsoft Revenue Beats as Remote Work Boosts Teams, Cloud Strength
Next Post
Qualcomm Forecasts High Revenue on 5G Chip Demand

Related Posts

  • EU Privacy Watchdog Accused of Delaying Probe Procedures Against Facebook

  • Zuckerberg Says Remote Work is Here to Stay

  • Facebook to Launch New Shopping Feature Across Apps

  • EU Tech Chief Demands More From Facebook Regarding Business Practices

  • SoftBank Reports $18 Billion Loss from Vision Fund

  • Panasonic Annual Profit Decreased, Tesla Battery Venture Brings Gains

  • Facebook Buys GIPHY as Part of Instagram Team

  • Facebook Works With Telecoms on 2Africa Subsea Cable for Future Internet Connectivity

Latest News

ASUS Announces Pro WS Platinum Series Power Supplies
PC components

ASUS Announces Pro WS Platinum Series Power Supplies

Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device
Consumer Electronics

Razer Hammerhead V3 Wired Earbuds Bring Premium Sound and Comfort to Every Device

ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition
GPUs

ASUS ROG Unveils ROG Astral GeForce RTX 5080 Dhahab CORE OC Edition

Transcend Introduces 8TB Industrial SSD with Power Loss Protection
Enterprise & IT

Transcend Introduces 8TB Industrial SSD with Power Loss Protection

Viltrox announces AF 85mm F1.4 Pro FE Portrait Lens
Cameras

Viltrox announces AF 85mm F1.4 Pro FE Portrait Lens

Popular Reviews

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

Arctic Liquid Freezer III 420 - 360

Arctic Liquid Freezer III 420 - 360

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Soundpeats Pop Clip

Soundpeats Pop Clip

Crucial T705 2TB NVME White

Crucial T705 2TB NVME White

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Noctua NH-D15 G2

Noctua NH-D15 G2

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed