In a blog post, the social media giant said it is experiencing a huge uptick in usage in areas most affected by the pandemic but warned that won't be enough to cushion the blow from a weakening advertising business.
Facebook said that, in many of the countries hit hardest by the virus messaging has increased 50% during the month. In Italy, Facebook has seen a 70% increase in time spent across its apps, and views on Instagram and Facebook Live have doubled in a week.
"We don't monetize many of the services where we're seeing increased engagement, and we've seen a weakening in our ads business in countries taking aggressive actions to reduce the spread of COVID-19," Facebook wrote in its COVID-19 update.
Facebook's warning mirrors what Twitter had to say a day earlier. The microblogging operator cautioned that it wouldn't meet its guidance for the first quarter because of the COVID-19 pandemic. Like Facebook, noted its user base is growing, as people seek out information on social media.
"The COVID-19 impact began in Asia, and as it unfolded into a global pandemic, it has impacted Twitter's advertising revenue globally more significantly in the last few weeks," said Ned Segal, Twitter's Chief Financial Officer in a press release providing the quarterly update. "We have made solid progress on our consumer and revenue product priorities and we remain confident in our opportunity and strategy."