One society’s suffering can only be a company’s growth opportunity for so long.
Facebook released its third quarter earnings report Thursday, letting investors around the world know that not even the coronavirus can slow its inexorable march toward riches — it clocked in a cool $21 billion in revenue this quarter alone. There was one bit of interesting news, however, buried within: Facebook’s number of daily active and monthly active users in the United States and Canada is declining, and it expects to continue to lose users in those countries throughout the end of the year.
As the pandemic continues to drag on in the United States, killing over 213,000 in the process as of this writing, Facebook has for the most part chugged right along — exceeding investor expectations and increasing the number of daily active users along the way. No more. While the decrease in users is slight, it’s especially notable at a time when people are still stuck in their homes due to the pandemic. Read more…
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