The company said ad revenues totalled $US26.642 billion in the three months to March 31, up $US5.232 billion from $US21.411 billion in the same quarter of 2017.
But advertisers have shrugged off the scandals in the aggregate. While the Facebook Chairman Mark Zuckerberg admitted that data of 5.62 lakh may have been used in an unauthorised manner, the Cambridge Analytica said that it does not have any Facebook data on Indian citizens.
On Tuesday, Facebook announced Kevin Martin, a former Republican chairman of the Federal Communications Commission, would become its interim head of USA policy, replacing chief privacy officer Erin Egan, as the company continues to grapple with the political fallout from the Cambridge Analytica controversy.
Facebook has spent the past month explaining, apologizing and tweaking its rules after an app developer passed along personal information on as many as 87 million users to Cambridge Analytica, a political consulting firm, which may have failed to delete it.
According to Axios, Facebook's stock rose 3 percent in after-hours trading on Wednesday, hours after the company reported it had surpassed earnings expectations. Facebook will still maintain "a very strong position" relative to the rest of the ad industry she said.
The company also has plenty of properties where it's starting to make more money beyond the main social network, like the popular chat apps WhatsApp and Messenger and the photo-sharing app Instagram, which is expected to reach a billion users this year. Despite seeing billions of dollars shaved off of its market cap, Facebook's quarterly earnings-which the company published on Wednesday-suggest it managed to survive the scandal with both its bottom line and its user base relatively intact.
Congress doesn't believe in any constitutional institution: BJP
Also, they were attacking the Election Commission (EC), the Supreme Court , and the army for petty political gains. Gandhi dared Modi to allow him to speak on the Rafale deal for just 15 minutes inside the parliament.
First quarter profits also grew, reaching $4.9bn compared to $3bn a year ago.
In the last few weeks, the social network has announced a slew of changes to its privacy tools and to the way that it collects and shares user data.
However, "from now on", says the video, "Facebook will do more to keep you safe and protect your privacy". The government has also sought information about the entities working under CA along with the details of their directors. Sheryl Sandberg, Facebook's COO, said some advertisers had taken a "pause" with Facebook amid the scandal.
Sandberg rejected any suggestion that Facebook should diversify its business model away from micro-targeted advertising.
In the fresh notice, government has asked the social media giant to list out security architecture proposed to be created by the company "so that data concerning Indians are not pilfered or manipulated again for extraneous purposes including to influence the elections". The question for analysts will be whether the declines are truly Facebook's own design or a reflection of user preference.
Aside from some rather vague 'we need to do better' statements from CEO Mark Zuckerberg, the new advert is the closest the company's come to admitting that it has a serious image issue and that it has substantially strayed from its initial intentions.