Quarterly profit of Facebook reduced by half

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American Facebook, which owns the world's largest social network of the same name, reported that in the first quarter its net profit due to payments made for possible payments fell by 51% compared to the same period last year to 2,430 million dollars. Excluding one-time factors, profit was at the level of 1 dollar 89 cents per share, which is higher than the experts' forecast of 1 dollar and 62 cents per share. At the same time, revenue for the year increased by 26%, reaching 15 billion 80 million dollars. The expenses of the company during the earnings period increased to 8 billion 760 million dollars against 6 billion 520 million a year earlier. In connection with the investigation by the Federal Trade Commission about the use of user data on Facebook platforms, the company reserved $3 billion for possible payments. In the first quarter, the number of network users grew by 8% to 2 billion 380 million people. The company increased advertising revenue by 26%.

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