• Revision ID 67845 REVISION
  • 2018-04-26 14:35:02
  • by Linh Nguyen (talk | contribs)
  • Note: removed byline, added category
  • Revision ID 67848 PUBLISHED
  • 2018-04-26 14:48:08
  • by Angela Long (talk | contribs)
  • Note: keep plural verb
 
   
Title Title
Facebook's profits keeps growing despite data scandal  Facebook's profits keep growing despite data scandal
Summary Summary
Recent exposure of data misuse and harvesting seems to have had little impact on financial results of the social giant  Recent exposure of data misuse and harvesting seems to have had little impact on financial results of the social giant
Highlights Highlights
Content Content
<strong>Facebook reported a <a href="https://www.reuters.com/article/us-facebook-results/facebook-quarterly-profit-revenue-beat-estimates-idUSKBN1HW2TD">63 percent rise in income</a> for the first quarter of 2018, despite recent tumult over reports that users had their data harvested by Cambridge Analytica. </strong> <strong>Facebook reported a <a href="https://www.reuters.com/article/us-facebook-results/facebook-quarterly-profit-revenue-beat-estimates-idUSKBN1HW2TD">63 percent rise in income</a> for the first quarter of 2018, despite recent tumult over reports that users had their data harvested by Cambridge Analytica. </strong>
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The social media giant released its <a href="https://s21.q4cdn.com/399680738/files/doc_financials/2018/Q1/Q1-2018-Press-Release.pdf">quarterly report</a> on April 25. Net income was just under $5 billion ($4.98 bn, or £4bn). Its number of monthly active users increased to 2.2 billion, 13 percent higher than the equivalent period in 2017. Daily users in the United States and Canada were 185 million,<a href="https://www.ft.com/content/50eaff86-48b6-11e8-8ae9-4b5ddcca99b3"> recovering after a dip</a> in the final quarter of 2017. (<em>Financial Times</em>) The social media giant released its <a href="https://s21.q4cdn.com/399680738/files/doc_financials/2018/Q1/Q1-2018-Press-Release.pdf">quarterly report</a> on April 25. Net income was just under $5 billion ($4.98 bn, or £4bn). Its number of monthly active users increased to 2.2 billion, 13 percent higher than the equivalent period in 2017. Daily users in the United States and Canada were 185 million,<a href="https://www.ft.com/content/50eaff86-48b6-11e8-8ae9-4b5ddcca99b3"> recovering after a dip</a> in the final quarter of 2017. (<em>Financial Times</em>)
There's also a 49 percent rise in its revenue from the previous year. Facebook made $11.96 billion (£9.8bn) in the first quarter of 2018, compared with $8.03 billion (£6.6bn) for the first quarter of 2017. There's also a 49 percent rise in its revenue from the previous year. Facebook made $11.96 billion (£9.8bn) in the first quarter of 2018, compared with $8.03 billion (£6.6bn) for the first quarter of 2017.
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Last month's <a href="https://www.wikitribune.com/story/2018/04/06/internet/facebook-and-the-privacy-dilemma/58573/">Cambridge Analytica scandal</a>, which affected up to 87 million users, prompted widespread demands for more regulation and for users to delete their Facebook accounts. Chief executive Mark Zuckerberg appeared before two U.S. Congress committees to explain the company's actions (read WikiTribune reports <a href="https://www.wikitribune.com/story/2018/04/09/technology/facebook-will-contact-users-about-data-mine-before-zuckerberg-addresses-congress/62451/">here.</a>) Last month's <a href="https://www.wikitribune.com/story/2018/04/06/internet/facebook-and-the-privacy-dilemma/58573/">Cambridge Analytica scandal</a>, which affected up to 87 million users, prompted widespread demands for more regulation and for users to delete their Facebook accounts. Chief executive Mark Zuckerberg appeared before two U.S. Congress committees to explain the company's actions (read WikiTribune reports <a href="https://www.wikitribune.com/story/2018/04/09/technology/facebook-will-contact-users-about-data-mine-before-zuckerberg-addresses-congress/62451/">here.</a>)
Categories Categories
Internet, Technology, Internet Internet, Technology, Internet
Article type Article type
emerging emerging
Tags Tags
Big Data, Cambridge Analytica, Facebook, financial results, Mark Zuckerberg Big Data, Cambridge Analytica, Facebook, financial results, Mark Zuckerberg
Author byline Author byline
Yes Yes
Has hero Has hero
No No
Hero Alignment Hero Alignment
full full
Hero Image URL Hero Image URL
None None
Featured Image URL Featured Image URL
https://s3-eu-west-1.amazonaws.com/wikitribune-uploads-master/2018/03/20154741/1024px-Guest_lecture_of_Mark_Zuckerberg_during_the_Tsinghua_SEM_advisory_board_meeting_in_2015.jpg https://s3-eu-west-1.amazonaws.com/wikitribune-uploads-master/2018/03/20154741/1024px-Guest_lecture_of_Mark_Zuckerberg_during_the_Tsinghua_SEM_advisory_board_meeting_in_2015.jpg
Sources Sources

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