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Facebook to label political ads in the UK

27 April, 2018, 01:14 | Author: Shawna Walton
  • Screen Shot 2018 04 25

Facebook has faced barbs since it was revealed that it leaked the private information of almost 90 million users without their permission to Cambridge Analytica, a political research firm affiliated with Donald Trump's 2016 presidential campaign.

The Cambridge Analytica data privacy scandal came to light late in the first quarter, and we will only see the impact it had on Facebook's business until next quarter. Facebook had a strong earnings report Wednesday, raking in almost $12 billion in revenue. His firm holds about 73,000 shares in Facebook.

On Wednesday, Facebook reported a net income of $4.99 billion for the first quarter of 2018, an increase of 63 percent compared to the same period past year.

The company also managed to increase its user numbers, reporting an average of 1.45 billion daily active users worldwide.

The results sent Facebook's shares up more than 7 percent in aftermarket trading on Wednesday, reflecting Wall Street's willingness to shrug off the company's privacy issues as long as the money keeps flowing in.

Facebook generates the majority of its revenue from advertisers.

It is spending to ensure users are not scared away by scandals. It said expenses this year will grow between 50 percent and 60 percent, up from a prior range of 45 percent to 60 percent.

Facebook's CEO has said he doesn't expect the typical user to read the company's terms and conditions. The category includes efforts to root out fake accounts, scrub hate speech and take down violent videos.

Mobile represented approximately 91 per cent of Facebook's overall revenue for the first quarter of 2018 - up from approximately 85 per cent in the first quarter of 2017. "We're continuing to treat the product to emphasize that kind of content more while building more of these social features", said Zuckerberg, according to a Seeking Alpha transcript.

At least eight brokerages raised their price targets on Facebook stock, while one cut its price on the stock. Now, when the report on the 1st financial quarter earnings is published, it became more obvious. Daily users are also up, to 1.45 billion.

Total revenue was $11.97 billion, above the analyst estimate of $11.41 billion.

As Facebook experiences a decline in passive video viewing on its platform, the company's still-fledgling Watch tab could be in line for an upside.

Tighter regulation could make Facebook's ads less lucrative by reducing the kinds of data it can use to personalize and target ads to users, although Facebook's size means it could also be well positioned to cope with regulations.

Facebook has a new ad reminding you it's the reason the platform has gone downhill, not you.

Facebook's staff headcount was 27,742 as of 31 March - a year-on-year increase of 48 per cent.

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