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We spend less time on Facebook, but it still makes loads of money
The past few weeks haven't been easy for Facebook. After announcing an overhaul to its News Feed earlier this month, one that places emphasis on people's interactions over content from brands, the company has been taking heat for its new approach. Not only because Facebook is leaving publishers who relied on its platform behind, but it also isn't offering the best solution to fix its fake news problem. A blunt two-question "trusted" news survey simply won't cut it. CEO and founder Mark Zuckerberg said that, with these changes, he expects users' time on the site to go down, but he believes keeping people happy will be better for Facebook's bottom line in the long run.
There's still no stopping Facebook
Amid a surprisingly rocky week for technology companies (in particular, Apple's revelation that iPhone sales are finally slowing down), it's all sunshine and growing metrics for Facebook. Its revenues for the first quarter reached $5.4 billion, up 57 percent from last year when it was just $3.3 billion. That's about 10 percent higher than most Wall Street estimates.
