Facebook reports slowest quarterly growth since going public

April 30, 2020 at 12:29AM

Company earns $4.9bn as it faces slowdown in digital advertising market amid coronavirus

Facebook reported its slowest quarterly growth as a public company, pressured by a global slowdown in the digital advertising market due to the coronavirus pandemic.

Like other tech companies, the social network is feeling the squeeze from the global pandemic, but its results still beat analyst expectations. Revenue rose 18% to $17.74bn, sending stocks surging more than 7% in after-hours trading.

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