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Revenue hit $US11.97-billion in the first three months of the year, up 50 per cent from the same period a year earlier and well ahead of analysts' expectations.

Of this, mobile advertising revenue represented 91 per cent of total revenue during the first quarter, up 6 per cent from Q2, 2017. But in the aggregate they have shrugged off the scandals, as have users. The numbers indicate the company does that extremely well: Facebook said it made an average $5.45 in advertising revenue on each user worldwide in the quarter, and an average $23.14 on ad sales for each user in the United States and Canada.

Another area of growth is the company's headcount, which increased by 48% to 27,742.

Facebook's expenses will continue to grow as it invests in security and other efforts.

The stock rose as much as 7% in after hours trading Wednesday following the earnings release.

The company, 4C, tracks $250 million in actual spending from more than 1,000 brands that use its tools to buy ads.

Facebook's recent data privacy missteps and closely watched Congressional hearings about the topic does not appear to have significantly impacted the company's latest quarterly earnings.

A senior IT ministry official aware of the development said that the government wants to send out a "strong signal" to global bodies operating in IT and data platform that any manipulation of data of Indians, in violation of law and privacy norms, will be viewed "seriously".


The Indian government on Wednesday, April 25, served another notice to Facebook and Cambridge Analytica after finding discrepancies in their statements over the data breach.

"People want [Facebook] to be more about friends and family and less about content consumption", he said.

On a daily basis, about 1.45bn people use the social network, an increase of 13 percent compared to 2017's first quarter. The government has also sought information about the entities working under CA along with the details of their directors.

Sandberg rejected any suggestion that Facebook should diversify its business model away from micro-targeted advertising.

Facebook topped market forecasts for revenue and earnings in the three months to March 31, joining rival Google in doing much better than anyone had thought.

On a conference call, chief financial officer David Wehner said the average monthly and daily user growth in Europe could be flat or down as the European Union brings tough new privacy regulations on May 25. The question for analysts will be whether the declines are truly Facebook's own design or a reflection of user preference.

An official said, "Close scrutiny of the replies by Facebook discrepancies between the responses of Facebook which is the platform from which data was siphoned and Cambridge Analytica who illegally received the data".

Steps outlined by Zuckerberg to address these areas include restricting the data developers can access; building more artificial intelligence tools to detect and remove fake accounts ahead of elections in both the U.S. and Europe last year, and doubling the headcount working on security and content review to more than 20,000 by the end of this year.


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