Read more at theverge.com
The ongoing coronavirus pandemic has led to an increase in the usage of social media platforms. The number of people that are currently seen to be active on social media has increased manifold. There has been a sudden rise to around 50% in terms of messaging.
On the other hand, video calling too has seen an incredible rise. However, in spite of these rising numbers Facebook's business is seen to be hurting. The increasing usage is directly linked to the usage in Italy wherein there is double usage.
However, these services by Facebook are not based on monetary terms. They do not yield any business for Facebook. The situation of Facebook can be compared to what's happening with other businesses.
In other words, the COVID-19 virus has led to large engagement on Facebook and lesser business on part of its ads.