Facebook Reports $11.8 Billion in Ad Revenue for Q1 2018 – 50% More Than Same Period Last Year
Facebook’s strong ad revenue gains and growing user base signals that, so far, the social network appears to be weathering the storm that the Cambridge Analytica scandal created, reports Marketing Dive, which added that the “abuse of more the 87 million user profiles by a data firm tied to Donald Trump’s presidential campaign, and Zuckerberg’s testimony before Congress seems to have had little impact on its Q1 2018 earnings. However, the revelations and a backlash from some users and advertisers did not kick up until later in the quarter so, depending on how quickly Facebook is able to put any concerns behind it, there is still the possibility that a negative impact could show up in Q2 results.
“The trending #DeleteFacebook boycott led some advertisers, including Mozilla, SpaceX, Tesla and Sonos, to pull their ads from the platform, but most advertisers seem to be staying put. A recently released report from 4C suggested higher ad revenue growth of 62% for Facebook in Q1, but a decline of 34% from Q4 2017.
“Despite the strong start to 2018, Facebook has some work ahead when it comes to rebuilding users’ trust.”
More here.
