Facebook reported its first quarter earnings on Wednesday, largely shrugging off concerns over its ad-centric business model amid the COVID-19 crisis. In fact, advertising revenue was up 17 percent year-over-year, partly because the effects of the pandemic only became apparent towards the end of the quarter. “We experienced a significant reduction in the demand for advertising, as well as a related decline in the pricing of our ads, over the last three weeks of the first quarter of 2020,” the official press release reads, adding that “we have seen signs of stability reflected in the first three weeks of April,” with ad sales roughly flat compared to the previous year.
The following chart shows the latest available information on how many people use each of Facebook’s social networking/messaging tools, with the company’s namesake platform still the undisputed number one in terms of monthly active users.
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