Facebook Reports 48% Quarterly Revenue Growth
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Facebook has just reported its first quarter results. According to the company, its revenue posted a 48% increase to $26.17 billion, while the net income for the first quarter jumped 94% to $9.4 billion.

According to Facebook, the revenue was driven by a 30% year-over-year increase in average cost per ad as well as a 12% increase in the number of ads shown.

The company CEO Mark Zuckerberg has said Facebook will focus on creating new e-commerce features that will be a key part of offering users a "personalized" experience.

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The foundation for expanding Facebook's service commerce in its apps will be the creation of new payment techs, including the digital currency Diem and the wallet Novi, Zuckerberg has explained.

It has previously been rumored that Facebook has bought Bitcoins. However, Facebook's quarterly report makes no mention of BTC or other cryptos, nor does it suggest the company has plans to buy them.

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