Facebook makes almost all its money from digital advertisingA sharp rise in digital advertising enabled Facebook to comfortably beat Wall Street expectations as its profits almost doubled. Shares in the world’s largest social media company are set to open at an all-time high today after it posted a 48 per cent jump in total revenue, to $26.17 billion. Net income surged 94 per cent to $9.5 billion in Facebook’s first quarter, exceeding analysts’ forecasts. Its shares advanced 5.1 per cent, or $15.65, to $322.75 during out-of-hours trading last night. Facebook owns the social network of the same name, Instagram, the video-sharing app, and

Source: The Times April 28, 2021 22:52 UTC