Facebook is among the businesses that thrived during the pandemic with profits up more than 50 percent over the same time last year.
Wednesday the company announced a profit of more than $11 billion in just the last three months of 2020.
Facebook CEO Mark Zuckerberg says he is very gratified that businesses continue to use his company’s services during these challenging times.
“I’m excited about our product road map for 2021 as we build new and meaningful ways to create economic opportunity, build community and help people just have fun.”
When combining Facebook apps, including Instagram, Messenger, and WhatsApp, it now has more than 3.3 billion users, a 14 percent increase in overall users.
But the social media company is also facing scrutiny over the role its platform may have played in spreading lies about the presidential election.
Several states are also suing Facebook over what they consider to be anti-competitive behavior.
Despite the negative publicity and antitrust cases, analysts argue that Facebook is still the world’s most important advertising platform.
