Investors react with relief to Facebook’s quarterly results. The stock had been under pressure for several days after Snap expected to slow down due to Apple’s App Store privacy rules, something Facebook also warned about.
Even though the Numbers slightly less than expected, third quarter revenue was still $28.2 billion from $21.2 billion a year ago. Net profit rose from $7.8 billion to $9.1 billion.
Third-quarter ad revenue came in at $28.3 billion, up 33 percent year-over-year. In the second quarter, however, growth was 56 percent, but the decline is not yet dramatic. For the fourth quarter, Facebook expects to sell fewer ads as a result of Apple’s measures, but Facebook still expects sales of 31.5 to 34 billion dollars.
The number of daily active users rose again in the past quarter, by 6 percent, to 1.93 billion. The number of monthly active users was 2.81 billion.
Despite the good numbers, Facebook has been under heavy fire for several weeks. Twenty MEPs from four major parties ask the CEOs of the 100 largest companies in Europe to stop advertising via Facebook and Google. They oppose the use of personalized advertisements based on the behavioral and intent profiles of hundreds of millions of internet users. The toxic ecosystem must stop, they say in a letter.
There is also a lot of criticism of the mediocre moderation. The artificial intelligence systems the platform uses to block hate speech don’t work enough.
Employees are said to have raised the alarm several times, but little has been done with the warnings to date.
Facebook also barely acted against fake news about the American elections, according to documents released by another whistleblower Frances Haugen. On January 6, the day Trump supporters stormed the Capitol, Facebook employees saw 40,000 messages of disinformation pass an hour.
Facebook is said to have routinely undermined efforts to fight misinformation, partly because of fears about the reaction of then-US President Donald Trump.
A new whistleblower, who worked for the social network’s so-called Integrity team, claims that drugs and antiques are illegally traded through Facebook Groups.
Source: Nieuws – Emerce by www.emerce.nl.
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