Thursday, 26 April, 2018

Facebook vows to curb abuse amid soaring profits

Mark Zuckerberg Facebook's Q3 Beats Expectations but Focus on Security Will Impact Future Results
Lillian Steele | 04 November, 2017, 01:02

Indeed, by all indications, the main impact of the Russian Federation disclosures on Facebook's business has been demonstrating for advertisers how effective the platform's ad-targeting tools can be and how much organic re-sharing and engagement is lavished on viral content.

Zuckerberg said that the community continues to grow, now with almost 2.1 billion people using Facebook every month, and almost 1.4 billion people using it daily.

Helping that pill go down easier was the $4.7 billion in profit Facebook reported for the quarter, an astonishing margin on the company's $10.3 billion in revenue.

Our community continues to grow, now with almost 2.1 billion people using Facebook every month, and almost 1.4 billion people using it daily. Immediately after running through financial figures, he turned the conversation to focus on the social network's social impact, in light of the ongoing Russian Federation investigation.

"None of that matters if our services are used in ways that don't bring people closer together - or if the foundation of our society is undermined by foreign interference", he said in the post. Quarterly advertisement revenue has more than doubled since 2015, and is rising at more than 40 percent year over year.

Facebook CFO David Wehner said Facebook will boost its expenses 45-60 per cent in 2018 in order to fund security efforts following the Russian intrusion as well as in furthering original video content, Artificial Intelligence (AI), Virtual Reality (VR) and Augmented Reality (AR).

The New York Times listed a sample of these advertisements, many containing outright messages supporting Donald Trump or attacking Hillary Clinton and the Obama Administration.

Although Facebook has already seen tremendous growth over the years, there is no reason to expect that to slow down anytime soon, especially as the company continues to add to its offerings. He said this will inform "a higher standard of transparency than ads on TV or other media".

"I'm dead serious", Zuckerberg said.

He affirmed that protecting the Facebook's community is more important than maximizing profits and that the company will be investing so much in security. These workers won't all be full-time at Facebookand will include contractors. Critics say a focus on engagement as the paramount metric and on connecting people as an end in itself are what made Facebook such a powerful medium for disinformation.

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