Amidst Negative Reports About Facebook, Its Stock Shares Keeps Rising
Facebook Inc. on Wednesday reported an increase in the number of users and a rise in profit by 63%. The social network recorded a 13% increase in the number of active monthly users which rose to 2.2 billion. It"s been two years since the social network marked such massive achievement. Despite its scandal with Cambridge Analytica and its hearing with the US lawmakers and its sanctions from other countries, it did not affect the business. In fact, the scandal has been a blessing disguise; it apparently boosted Facebook"s popularity. Read more: Facebook’s Quarterly Earnings Are A Bright Spot Amidst A Sea Of Bad Headlines After the devastating disclosure in March that the British consultancy, Cambridge Analytica had harvested the information of about 85 million users to influence the US election, the social network subsequently lost about $50b as the scandal progressed. During this time, the investors called for his resignation, but he couldn"t be unseated because even thoug...