Facebook’s advertising revenue soars 10.2% to over US$18 billion

Facebook’s advertising revenue climbed 10.2% in Q2 to US$18.321bn.

The results come as many other media organisations, including Twitter, experience dramatic falls in their advertising revenue due to COVID-19.

CEO Mark Zuckerberg told investors that he’s “troubled” by the ongoing scrutiny of internet advertising.

“Now some also seem to wrongly assume that our business is dependent on a few large advertisers. Now, while we value every single one of the businesses that use our platforms, the biggest part of our business is serving small businesses. Our advertising is one of the most effective tools that small businesses have to find customers, to grow their businesses, and to create jobs. And that’s why I am often troubled by the calls to go after internet advertising, especially during a time of such economic turmoil like we face today with COVID,” he said on a call to investors.