This amount the social network was able to earn thanks to advertising on Instagram.
The social network Instagram brought Facebook Inc. $20 billion for the year. This is reported by Bloomberg citing sources.
It is reported that Facebook received such a sum for advertising revenue in the social network during 2019. It is also noted that this represents more than a quarter of the company’s total profit over the past year.
The publication stresses that Facebook does not prescribe profits from Instagram with a separate line in its earnings reports.
The publication writes that Facebook refused to comment on this topic.
Earlier it was reported that video bloggers told about their earnings. The correspondent also wrote that the famous writer and publicist Stephen King retired from Facebook.