Facebook surges after sending upbeat message to Wall Street

SAN FRANCISCO (Apr 27): Facebook Inc.’s message for investors is clear: the business is healthy and growing.

In its first-quarter earnings report, the social network said revenue jumped 49%, beating analysts’ estimates, as the digital-advertising business charged ahead. While Facebook is spending to fix big problems like election manipulation and privacy -- issues that have dealt blows to the company’s image -- “we’re going to invest even more in building the experiences that bring people together on Facebook in the first place,” Chief Executive Officer Mark Zuckerberg said on a conference call Wednesday.

Shares in Facebook were up 6.3% to US$169.83 ($225.54) at 5:25 am premarket in New York Thursday. The stock has dropped about 14% since the new reports about data-privacy lapses emerged in March.

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