The Coronavirus, which started from a Chinese city Wuhan, has reached about 200 countries in the world today. This virus is causing economic loss to the whole world. The impact of the Coronavirus is also going to be very huge on Facebook and Google, two major technology companies.
A report says that Facebook and Google may lose 44 billion dollars, i.e., 4,400 million dollars in the year 2020 due to coronavirus. In other words, the coronavirus in the year 2020 may cause a loss of 4,400 million dollars due to a lack of advertising.
ADVERTISING
Google’s total net revenue was expected to be $127.5 billion in 2020, but the coronavirus is expected to reduce it by $28.6 billion, according to a report by Global Investment Bank and financial services company Coven & Co. According to the Coven report, Twitter’s earnings may see a decline of 18 percent this year.
On Facebook, the company said Facebook had estimated a profit of $67.8 billion from advertising this year, but corona could see a $15.7 billion shortfall. However, it is also claimed that facebook’s advertising business may see a 23 percent increase in the year 2021, which will be close to about 83 billion dollars.