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Facebook’s Profits Surge as Pandemic Fuels Use

FILE - The Facebook application is displayed on a mobile phone at a store in Chicago, July 30, 2019.

Facebook’s profits surged in the final three months of last year as people enduring the holidays in a pandemic turned to the leading social network for work and pleasure, the company said Wednesday.

Facebook reported a profit of $ 11.2 billion on revenue of $ 28 billion, increases of 53% and 33% when compared with the same period the prior year.

“We had a strong end to the year as people and businesses continued to use our services during these challenging times,” Facebook Chief Executive Mark Zuckerberg said.

Facebook said its core social network had 2.8 billion users at the end of December, while 3.3 billion people used at least one of its "family" of apps, including Instagram, WhatsApp and Messenger.