Facebook caught fire in the quarantine days, as everyone was locked in the house and social media had its honor.
The company, which recently announced its profits for the first quarter of 2020, typically reports a “record number of people” who used its services, such as Messenger and WhatsApp, as well as Instagram.
But Facebook knows that this unprecedented impact is temporary. And he is very worried about his advertising revenue, which he expects to sink in the coming months.
“Our business has been hit by the Covid-19 pandemic and, like other companies, is facing a period of unprecedented uncertainty in our business prospects,” the statement said.
And he continues: “We expect our business performance to be hit by issues beyond our control.” He expects to lose a good part of the daily activity of the users and is very afraid of the decline of his advertising income.
“We are experiencing a significant decline in demand for advertising, but also a relative drop in the price of our ads in the last three weeks of the first quarter of 2020.”
For the time being, Facebook has revenue of $ 17.7 billion and earnings of $ 4.9 billion (18% and 102% increase, respectively, compared to last year). As for its users, the number of people connected daily to social media has increased by 11% since last year, to 1.7 billion users.
However, his warnings about the future seem ominous.
