Business

Facebook sees huge spike in usage but fall in revenue amid pandemic

Your ads will be inserted here by

Easy Plugin for AdSense.

Please go to the plugin admin page to
Paste your ad code OR
Suppress this ad slot.

SAN FRANCISCO (AFP) – Facebook on Tuesday (March 24) said the coronavirus pandemic has users flocking to its services while it undermines ad revenue on which the world's biggest social network depends.

Online voice and video calls at Facebook-owned Messenger and WhatsApp have more than doubled in places hit hard by the new coronavirus, according to a post by vice-president of analytics Alex Schultz and Jay Parikh, vice-president of engineering.

"As the pandemic expands and more people practice physically distancing themselves from one another, this has also meant that many more people are using our apps," Parikh and Schultz said.

Much of the increased use has been at Facebook's free messaging services which don't generate ad revenue, according to the executives.

"We don't monetise many of the services where we're seeing increased engagement, and we've seen a weakening in our ads business in countries taking aggressive actions to reduce the spread of Covid-19," Parikh and Schultz said.

Soaring use at Facebook's "family" of services and across the internet industry have been unprecedented, they added.

Facebook, which has more than two billion users, is among numerous firms expected to take a hit from the crisis, which has already altered many consumer and online habits.

OnlRead More – Source