Facebook stays strong amid COVID-19 scare

The social media platform, Facebook, had always shown strength even before the pandemic. Amid predicted losses from ad revenue, its earnings still came out on top. Facebook doesn’t show any signs of stopping.

With people stuck at homes amid the lockdown situation, most of them turn to Facebook to pass the time. They use the platform for a multitude of things. It includes bringing together friends and family while reading news about the situation. True, it is a depressing time right now, but Facebook helps relieve stress and tension. Seeing that your family and friends are safe restrains any feelings of distress.

Facebook earnings

It is no secret to anyone that Facebook went through a lot of scandals in the past. Many people say that either Facebook violates or invade a person’s privacy. All those are in the past now, and Facebook is out to prove that the platform has good intentions. It is one of the primary sources of communication between people in this scenario. The people behind the platform also make sure that they quell the spread of fake news.

With all the goodness that the platform provides, it suffered from ad decline. In the last three weeks of the first quarter, ad revenue slowed down. Ads from car and travel companies decreased due to people staying indoors. The good thing is that the monthly users of the platform rose by ten percent. More than two billion people use the platform. Also, at least three billion people used apps from within the platform.

Facebook cares

In a show of goodwill, Mark Zuckerberg and wife Priscilla Chan took to themselves to defeat fake news. Through live video, they interviewed various politicians and experts about the disease. These videos went to the coronavirus information center of the platform. The primary purpose of the center is to provide accurate information about COVID-19. It would help stop the spread of fake news as well.

Yet, a lot of people still believe in these fake news. While Facebook doesn’t violate freedom of expression, it warns about false news. The platform pushes for people to do their research first before believing.

Besides keeping families and friends together, Facebook donated millions to different news organizations. This act aims to help provide factual and accurate news to the people. Speaking of family and friends, the platform recently released Messenger Rooms. It’s a video chat app that can accommodate 50 people at the same time. It opened possibilities not only for families but for business meetings as well.

People believe that Facebook has contributed a lot to help their plight. It only goes to show that Facebook does have a heart and not only focuses on financial gain.

 

Image courtesy of Cottonbro/Pexels, Freestocks.org/Pexels

Micky is a news site and does not provide trading, investing, or other financial advice. By using this website, you affirm that you have read and agree to abide by our Terms and Conditions.
Micky readers - you can get a 10% discount on trading fees on FTX and Binance when you sign up using the links above.