Bully for Facebook: Profits swell handsomely

Facebook

Facebook made profits of £3.5 billion in the last quarter – isn’t that nice?

The social media network’s earnings were up 80% year-on-year for the period, with a total of $10bn brought in through ad revenue.

How much of that money came from Russian sources eager to influence US politics is, of course, for the jury to decide.

Last year, Facebook top dog Mark Zuckerberg claimed the suggestion that fake news on the network played a part in 2016’s US presidential election was ‘crazy’. However, last week the firm admitted that 150 million users may have consumed Russian propaganda through its blue and white pages of 21st century monotony. Oh dear.

Whatever the truth, what we do know is that, once again, Facebook paid very little in tax in the UK last year. Read this Guardian story for all the gory, outrageous details.

With the last quarter being such a bumper period for the company, I wonder what 2017’s tax bill will come in at? 12p?

Bully for Facebook: Profits swell handsomely

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