Facebook weathers the storm to post solid growth figures

For all its apparent faults, you can’t say Facebook isn’t resilient: the number of people using the social media platform has continued to rise despite a slew of scandals.

Facebook said the number of users logging into the platform at least once per month leapt 9% last year to 2.32bn, with annual revenues rising 30%. Total profit for 2018 was £16.9bn, up 39% on 2017.

The performance marks an impressive turnaround following last year’s multi-billion dollar kicking from Wall Street in the wake of the Cambridge Analytica scandal, and shows that advertisers are not put off using the platform.

The caveat, however, is that user growth is actually flat in it largest market – the US – but strong in countries such as India and the Philippines.

There could still be trouble on the horizon, however, as regulators the world over look at the ethics and business practices of the platform.