Though Facebook has faced serious public backlash after it was revealed Cambridge Analytica improperly accessed the profiles of 87 million users, the company's profits are up 63 percent and shares are up 7.1 percent, according to Reuters.
Though many people called for Facebook users to delete their profiles in the wake of the scandal, the company's recent earnings report did not reflect any consumer dissatisfaction.
"Everybody keeps talking about how bad things are for Facebook, but this earnings report to me is very positive, and reiterates that Facebook is fine, and they'll get through this," Daniel Morgan, senior portfolio manager at Synovus Trust Company, told Reuters.
Facebook reported 2.2 billion active monthly users in the first quarter of 2018, up 13 percent from one year prior. Facebook's daily active users in the U.S. and Canada grew from 184 million in the fourth quarter of 2017 to 185 million in the first quarter of 2018.
Facebook CFO David Wehner told analysts the company's expenses will grow between 50 and 60 percent this year in an effort to ensure the recent scandals do not scare users away.
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