Facebook last week reported a revenue jump of 50 percent year over year, and Wall Street could not have been happier. The company’s stock rose almost 9 percent after reporting earnings and has traded at that level since.
The social media giant, which faced huge publicity and PR fallout from data harvested by a third-party company Cambridge Analytica, appears to have been little fazed by the setback. It reported strong growth not only in revenue and income, but in user and usage numbers as well. In fact, Facebook CEO Mark Zuckerberg testified in a Senate hearing almost three weeks ago that the company had seen no dramatic fall-out of usage numbers after the negative press.
