Facebook Warns of Business ‘Uncertainty’ But Wall Street Doesn’t Seem to Mind

Facebook narrowly topped analyst projections when it reported $17.7 billion in Q1 revenue on Wednesday, but the social network sounded an alarm at the same time, saying its business faces “unprecedented uncertainty” due to COVID-19. CEO Mark Zuckerberg, speaking on the company’s earnings call Wednesday afternoon, said he is concerned the economic fallout could be even more severe if social distancing measures are lifted too early. “I worry that this could be worse than at least some people are predicting,” Zuckerberg said. And yet, Facebook’s stock price continued to dart higher on Thursday morning, increasing 5% to $204 per share.