While Facebook may have increased engagement, the company is seeing a decrease in their advertisement business, especially in countries that are taking measures to reduce the spread of COVID-19.
In a blog post titled, “Keeping Our Services Stable and Reliable During the COVID-19 Outbreak,” Facebook said, “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.” While the company is experiencing a growth of usage and engagement, they cannot say the same about their advertisement revenue. The company added, “We don’t monetize 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.”
After this news was revealed, Facebook’s stock took a slight drop after a recent 8% increase.
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