Despite people spending more time in social network, Facebook Inc said its business is being hit by the COVID-19 virus outbreak, saying ad sales have weakened in countries undertaking aggressive actions to reduce the spread of the virus.
In an article published by Reuters, Facebook services like messaging and group calling are increasing.
“We don’t monetize many of the services where we’re seeing increased engagement, and we’ve seen a weakening in our ads business in countries taking aggressive actions to reduce the spread of COVID-19,” the company said in a statement.
Facebook shares fell about 1% after hours following an 8.7% rise in regular trade.
(Photo source: unsplash.com – @Will Francis)