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Earnings Results: Facebook earnings beat despite backlash, shares surge

Revelations of the improperly handled data of 87 million users did nothing to stop Facebook Inc.‘s money machine.

The data-privacy scandal involving Cambridge Analytica broke in mid-March, but the company appeared to shrug off those concerns with a huge earnings and revenue beat in the first quarter. In a Wednesday report, Facebook FB, +0.00% posted $4.99 billion in quarterly profits on sales of $11.97 billion, topping analysts’ average estimates of $4.01 billion for net income and $11.41 billion in revenue.

“Despite facing important challenges, our community and business are off to a strong start in 2018,” Chief Executive Mark Zuckerberg said on a conference call Wednesday afternoon.

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