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Advertisers are more concerned Facebook will cut off access to data than they are about privacy, it seems. Far from boycotting the social network over highly publicized data lapses, most brands appear worried about their ability to reach their desired consumers if stricter privacy policies take root.

On Wednesday, Facebook announced financial results from the first quarter this year, and ad sales hit $11.8 billion, up 50 percent from the prior year, despite the Cambridge Analytica revelations that stirred a panic about data safety. Cambridge Analytica has been accused of making off with data on up to 87 million Facebook users, prompting the social network to reconsider its privacy and data policies.

"We heard from a handful advertisers who paused spend," said Sheryl Sandberg, Facebook chief operating officer, in an earnings call with Wall Street analysts. "One of whom has already come back. We haven't seen a meaningful trend or anything much since then."

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