Facebook Inc said on Tuesday the coronavirus outbreak was undercutting sales of the advertising that accounts for nearly all of its revenue, even as more users spend time on the social network during virus-related lockdowns.
"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," the company said in a statement.Facebook shares fell about 1per cent after hours following an 8.7per cent rise in regular trade.
Group calling with three or more participants increased by over 1,000per cent in Italy in the last month.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus: Delayed Olympics risks turning into colossal advertising bustTOKYO (BLOOMBERG) - The 2020 Tokyo Olympics are now officially delayed by as much as a year, leaving hundreds of companies around the world to recalibrate their plans for the world's biggest marketing event.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Facebook donates emergency reserve of 720,000 masks due to coronavirus outbreakFacebook Inc Chief Executive Mark Zuckerberg said on Sunday that the social media company has donated its emergency reserve of 720,000 masks to ... Why would FB have 720k masks?
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Facebook aims its Messenger at coronavirus battleSAN FRANCISCO (AFP) - Facebook on Monday (March 23) began enlisting outside developers to create ways its Messenger service can help health organisations battling the novel coronavirus.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Singapore economy forecast to shrink 0.8% in 2020 from coronavirus hit: S&PSINGAPORE (THE BUSINESS TIMES) - Singapore's economy may contract 0.8 per cent this year from the impact of the coronavirus pandemic after growing 0.7 per cent in 2019, said S&P Global Ratings on Monday (March 23).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Coronavirus relief Bill hits snag in US Senate, talks continuePartisan battles in the US Senate stopped a US$1 trillion-plus coronavirus response bill from advancing on Sunday, but talks continued over ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Fed mounts aggressive new steps to combat coronavirus hit to economyThe U.S. Federal Reserve, citing 'tremendous hardship' caused by the coronavirus pandemic, on Monday said it would begin backstopping an ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »