Facebook Revenue Surges Nearly 50%

Results suggest advertisers were undeterred by uproar around the mishandling of user data

Maybe everyone isn’t so mad at Facebook Inc. after all.

In its first earnings report since the site began racing to address privacy concerns and Chief Executive Mark Zuckerberg squared off with angry lawmakers, Facebook posted rising revenue and profit that highlighted the company’s central place in the digital economy.

The social-media giant...