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Facebook weathers ad boycott and messy election season to report massive growth

The Verge Thursday, 29 October 2020
Facebook weathers ad boycott and messy election season to report massive growthPhoto by Michele Doying / The Verge

Among the tech platforms, no company, perhaps save Twitter, has had as contentious of a year as Facebook. The social media giant spent the last three months dealing with a notable ad boycott and one of the messiest and most complicated election cycles in US political history. Yet, Facebook’s handling of its many issues around political advertising, moderation, and election interference have had seemingly no effect on its bottom line, as the company just reported an astonishing quarter of revenue and user growth.

The company reported a 22 percent year-over-year increase in revenue to $21.2 billion, as well as a 12 percent increase in profit to $8 billion. Its user growth is also still in the double digits, with 12 percent more people...
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