Facebook's rise in profits, users shows resilience after scandals

Facebook's rise in profits, users shows resilience after scandals

Facebook said monthly active users in the first quarter rose to 2.2 billion, up 13 percent from a year earlier.

The government on Wednesday served a second set of notices to social networking giant Facebook and political analysis firm Cambridge Analytca. Facebook also touts a base of more than 2 billion active users, more than any other social media platform. Daily active users reached 1.45 billion, also an increase of 13 percent over the same time previous year.

The number of daily active users in Canada and the US - its most lucrative advertising demographic - rose by 100,000 from the previous quarter to 185 million. Overall, Facebook reported first quarter earnings of $11.96 billion, up from $8.03 billion a year ago; earnings per share (EPS) rose from $1.04 billion to $1.69 billion. Lawmakers unveil bipartisan internet privacy bill Cambridge Analytica whistleblower briefs House Dems MORE said during an earnings call when asked if the company was looking for different revenue streams.

Facebook shares jumped more than 5% in after hours trading after ending the regular session flat at $US159 ahead of the post close release of the results.

Asked about other possible ways Facebook could make money, Sandberg said that it's always evaluating other strategies like a subscription business.

Facebook's struggles with mobile have impacted the company before, most notably when Facebook was slow to move its advertising business to mobile after its 2012 IPO and its stock tanked.

The Cambridge Analytica story hit toward the end of the quarter, in the middle of March, however, so the full impact might not register in the latest filing financial filings.

"Everybody keeps talking about how bad things are for Facebook, but this earnings report to me is very positive, and reiterates that Facebook is fine, and they'll get through this", Daniel Morgan, senior portfolio manager at Synovus Trust Company, told Reuters.

British data analytics and political consulting firm Cambridge Analytica has been accused of harvesting personal information of millions of Facebook users illegally to help political campaigns and influence polls in several countries.

Srikant Ayyar wrote that he had read their recent paper with interest and continued: "Our group does similar work with the goal of improving our product for people who use it and advertisers".

In its reply to the notice issued by the IT ministry, Cambridge Analytica had earlier this month categorically denied using any data of Indians from Facebook.

The company's healthy ad business drew the vast majority of sales, but investors often look to the company's nascent Messenger and WhatsApp divisions as potentially massive sources of revenue in the future.

"But then something happened", it continues, before explaining that problems started when "we had to deal with spam, clickbait, fake news, and data misuse". Meanwhile, it's working to address new privacy regulation from Europe, which Facebook has said could reduce the amount of daily users from that region.

"In the coming months, GDPR will give us another opportunity to make sure people fully understand how their information is used by our services", she stated, pointing to Facebook's decision to extend these controls to everyone using the platform globally.



Related Posts

Brow Beaten: Pelicans sweep Trail Blazers behind Davis, Holiday
But if the postseason is where players really earn their money, then the Pelicans' Holiday spending could very well be worth it. Coach Terry Stotts said there will be "no limitations" on Turner, although they will have to monitor his pain tolerance.

Congress Releases James Comey's Memos On Donald Trump
The Justice Department turned over Comey's partially redacted memos detailing his conversations with Trump to Congress Thursday. Mr Trump's team said that Mr Giuliani's aim was to "resolve" the Mueller investigation as quickly as possible.

Officer who arrested Toronto van attack suspect commended for actions
Those in the typically bustling neighbourhood where the attack took place said they were struggling to make sense of the violence. "You will always be loved and your love for sports will always be with me while I cheer with you", he wrote on Facebook .

Amazon Teases Upcoming 'Fire TV Cube' On Its Website
There is no news on when the Alexa Echo Show, which has a larger screen, will become available in India . The major change, however, is to Alexa, whose feature set has been altered to suit a younger user-base.

How to watch Westworld season 2, episode 1 online
Marsden talked about how his character, for the first time , has the power of choice yet still is "bound" to Delores. Westworld's hosts do indeed have to deal with basic biological needs, such as pooping.

Students march for gun reform
The shooting , which took place at Forest High School, resulted in a minor ankle injury to a student. Caleb said that the walkout was planned about a week-and-a-half ago.

Joel Embiid: I'm Going To Be A Nightmare For Miami
JOEL EMBIID of the Philadelphia 76ers , on the carbon-fibre mask-and-goggles combination that ensured protection. He accounted for 19 points, 10 rebounds, three assists, two blocks and a steal over 27 minutes off the bench.

Boston Celtics blow great opportunity in Milwaukee
Now - just as much as Kyrie Irving and Gordon Hayward - the "Jay-Team" holds the keys to the next great Boston basketball team. The Bucks led by 20 points with 7:37 remaining in the third quarter before the Celtics got back in the game with a torrid run.

Liverpool ace Mohamed Salah fires Man Utd warning: Don't slack off
Worked tirelessly for his team and then was rewarded with a goal at the end. 72' - GOAL! West Brom 0-2 Liverpool . Firstly, the Englishman was brought down off the ball by Craig Dawson in what seemed a stonewall penalty.

Strong all-round effort from Bravo helps Chennai to healthy win
The visiting team then stopped the hosts at 178 for six, with medium pacer Deepak Chahar doing the bulk of the damage. The right-handed Bravo finished unbeaten on 24 from 16 balls with four boundaries.

© 2015 Stocks News Daily. All Rights reserved.