Facebook's core advertising business has been upended by the pandemic, but the company says it saw 'signs of stability' in the first three weeks of April
New York Facebook's core advertising business has been upended by the pandemic, but the company said it saw"signs of stability" in the first three weeks of April.
On Wednesday, Facebook said it experienced a"significant reduction" in the demand for advertising, as well as a related decline in the pricing of ads, during the final three weeks of the quarter ending in March. The announcement comes as businesses around the world are forced to tighten their budgets or shutter entirely because of the pandemic.Even so, Facebook posted $17.7 billion in revenue for the first three months of the year, an 18% increase from the same period a year ago.
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