Facebook steamrolled over the Cambridge Analytica scandal, posting another record quarter

26 April, 2018, 12:44 | Author: Jacqueline Daniels
  • Facebook shrugs off Cambridge Analytica scandal to post 1Q earnings beat

Analysts estimated that Facebook would report 1.45 billion daily active users the first three months of this year, compared with 1.4 billion the previous quarter.

Mobile ad revenue is now 91 percent of the total ad revenue for the company in the last quarter.

Revelations of the improperly handled data of 87 million users did nothing to stop Facebook Inc.'s money machine. The company now boasts 1.45 billion daily users and 2.2 billion monthly members.

Another area of growth is the company's headcount, which increased by 48% to 27,742. Operating costs were lower than forecast by analysts but CEO Mark Zuckerberg warned they will continue to eat into Facebook's profits as it adds 20,000 workers to address security and privacy concerns in the wake of the Cambridge Analytica scandal and the rise in scepticism abut the company.

Allison Mack Released on $5 Million Bond in Sex Trafficking Case
But authorities allege it is a pyramid-scheme cult that recruits young women to be sex slaves. They face a minimum 15 years in prison and could potentially receive life if convicted.

Zuckerberg also reiterated some of the comments made during his recent testimony to the U.S. senate committee, where Facebook was accused of failing to protect the privacy of millions of users, specifically relating to the Cambridge Analytica data leak and Russian interference in the United States presidential elections in 2016.

While a poll last month showed that Facebook's favorability plunged 28 points in the five months between October and March, on Wednesday, the company's stock price exploded more than 7 percent in after-hours trading.

Despite the strong results, Facebook shares closed unmoved Wednesday. ".It is self-evident that apart from being very cryptic, the unstated intention was to hide more than reveal,"said the latest notice to Cambridge Analytica".

A senior IT ministry official aware of the development said that the government wants to send out a "strong signal" to global bodies operating in IT and data platform that any manipulation of data of Indians, in violation of law and privacy norms, will be viewed "seriously".

Music store lovers pay homage to local record stores
That tradition stuck, and in the years since, artists like Ozzy Osbourne and Iggy Pop have been record store day ambassadors. The Grand Rapids location offered free crack fries with any purchase if someone had a same-day receipt from a record store.

The notice has asked about the proceedings that the social media giant has undertaken against those who have violated Facebook's policies of privacy.

Net income attributable to Facebook shareholders rose in the first quarter to $4.99 billion, or $1.69 per share, from $3.06 billion, or $1.04 per share, a year earlier.

High-profile people in the tech world said they were leaving the social network, including Brian Acton, cofounder of Facebook-owned WhatsApp, and Steve Wozniak, co-founder of Apple. He told analysts the public testimony was an "important moment" for the company. "We think that ads is a great business model that is aligned with our mission".

Facebook is launching a pilot programme in Ireland ahead of a referendum on abortion which it hopes will ensure greater transparency in political advertising.

Russell Westbrook sends explosive message to Ricky Rubio after Jazz loss
With a loss, OKC regains home court advantage and we go to OKC 2-2, needing to win at least one more game on the road. The Jazz bested the Thunder in game three of the NBA Playoffs and Ricky Rubio got the best of Russell Westbrook .

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. Zuckerberg spent two days on Capitol Hill earlier this month getting grilled by lawmakers about Facebook's responsibility.

Recommended:

  • Iranian General Warns: Israeli Air Bases 'Within Reach'

    Iranian General Warns: Israeli Air Bases 'Within Reach'

    Israeli F-15s will stay in country after Tehran threatens Israel for attacking Iranian forces in Syria last week. Israeli Prime Minister Benjamin Netanyahu fired back at Salami on Friday.
    Willie Snead leaves New Orleans for Baltimore

    Willie Snead leaves New Orleans for Baltimore

    Eager to add a target for quarterback Joe Flacco , the Ravens on Friday offered Snead a two-year, $10.4 million contract. While he flashed talent, it wasn't enough to avoid being released by the team before seeing regular season action.
    Islamic State claims responsibility for Kabul bomber who killed 48 people

    Islamic State claims responsibility for Kabul bomber who killed 48 people

    According to the BBC, this is the fourth attack on a voting center since registration began at the beginning of the month. At least 57 people are said to have been killed, including children, and more than a hundred others have been injured.
  • Mohamed Salah: Liverpool Forward Voted PFA Player of the Year 2017-18

    Mohamed Salah: Liverpool Forward Voted PFA Player of the Year 2017-18

    Salah beat out Manchester City's Kevin De Bruyne , Leroy Sane and David Silva for the award. We both have the chance to go to the final - and that's all I need.
    Karnataka Assembly Election 2018 updates

    Karnataka Assembly Election 2018 updates

    Senior party leader JP Nadda released the list of 72 candidates following the party's committee meeting. The BJP and Congress is leaving no stone unturned to woo voters in Karnataka.
    Air India Dreamliner's window panel falls off mid-flight

    Air India Dreamliner's window panel falls off mid-flight

    The incident happened on the Boeing 787 Dreamliner (VTANI) soon after the flight took off from Amristar. Three passengers have been injured on a flight in India that experienced terrible turbulence.
  • Modi will give new slogan 'Beti Bachao from BJP men': Rahul Gandhi

    Modi will give new slogan 'Beti Bachao from BJP men': Rahul Gandhi

    Rahul has attacked the Modi-led government and also said that there is a big threat to the Constitution of India. The people of the BJP and RSS will not be able to touch the Constitution, we will not let it happen.
    Cleveland Browns: Collaborative 2018 NFL Mock Draft 2.0

    Cleveland Browns: Collaborative 2018 NFL Mock Draft 2.0

    The Browns should have their choice of left tackles if they trade with the Bills, who now pick 12th and 22nd in the first round. With the draft just days away, boards are being finalized and kept under lock and key until the show begins Thursday.
    Houston Rockets vs. Minnesota Timberwolves Game 4 Odds, NBA Betting Pick

    Houston Rockets vs. Minnesota Timberwolves Game 4 Odds, NBA Betting Pick

    Houston never made Minnesota uncomfortable in game 3, and must increase the pressure and intensity in game 4. Towns will need to keep playing well if the Wolves are going to even up the series.
  • New Gmail Is Live If You Opt In

    New Gmail Is Live If You Opt In

    You need to go to the cog wheel in the top right corner of Gmail and select " Try the new Gmail " to enable these settings . Therefore, here are the bazillion things (actually, ten) Google has added to this hefty Gmail update .
    Get rid of plastic pollution

    Get rid of plastic pollution

    This Earth Day , April 22, the Caribbean Hotel and Tourism Association (CHTA) joins the worldwide celebrations. Corporations and governments also use the occasion to make pledges and announce sustainability measures.
    Yemen rebels say strike kills senior official

    Yemen rebels say strike kills senior official

    Samad was second on the coalition's most needed checklist of Houthi leaders, after the group's chief Abdel-Malek al-Houthi. In October 2016, 140 mourners were killed during an air strike on a house in Sanaa.


Popular

YouTube Kids gets improved parental controls
There's three main options that Google and YouTube are introducing for parents, starting with new collections by trusted partners. This means any video uploaded to YouTube can also appear on YouTube Kids if the company's algorithms decide it is suitable.

Mnuchin to visit China to discuss trade issues
Meanwhile, ongoing economic reforms in the United States are necessitating that global trade rules be altered significantly. The discussions focused on issues related to the Chinese central bank, not trade, said the secretary.

OnePlus to unveil OnePlus 6 on May 16
OnePlus has partnered with Marvel and don't be surprised if there's an Avengers edition OnePlus 6 in the books . The OnePlus 6 might become the first ever water-resistant smartphone from the Chinese smartphone manufacturer.

Opposition Leader Pashinyan Calls On to Resume Peaceful Protests
A woman reacts during a rally held by supporters of Armenian opposition leader Nikol Pashinyan in Yerevan, Armenia April 25, 2018. It was not immediately clear whether this move would placate the protesters, who oppose the ruling elite as a whole.

Sensex gains 147 points, Nifty reclaims 10600-mark
In the Sensex gainers' list, RIL was followed by Yes Bank (3.31 per cent), M&M (1.94 per cent) and Adani Ports (1.74 per cent). The market breadth was narrow as 1391 shares advanced against a decline of 1290 shares, while 165 shares were unchanged.

BMW's iX3 concept heralds electric expansion
BMW says that the Concept iX3 "underscores" its resolve to strengthen its leadership in electric mobility. The concept is also fitted with light-alloy wheels in an aerodynamically optimised design.

Asus Zenfone Max Pro M1 FAQs, pros, cons, user queries and answers
A big change for Asus here is that this is their first smartphone that runs on stock Android , specifically, the 8.1 Oreo. Coming to the photography department, Zenfone Max Pro M1 sports 13MP+5MP dual cameras at the back with LED Flash.

Donald Trump tweets he's considering pardon of boxer Jack Johnson
John McCain - petitioned President Barack Obama to give Johnson a pardon on the 70th anniversary of the boxer's death. If he's pardoned by the president, it'll be the first time it's ever been done to someone who's already dead.

Guentzel scores four as Penguins eliminate Flyers in Game 6
Guentzel didn't just join Mario Lemieux and Kevin Stevens as the only Penguins with four or more goals in a playoff game. Couturier said he played with a torn right MCL suffered in a collision with a teammate at practice last week.

India, China to work together on counter-terrorism, climate change
Xi and Modi "will set a general direction, identify new goals and create a new dynamic for the growth of China-India relations". Last year, troops from both countries were involved in a months-long border standoff in Doklam, a Himalayan region near Bhutan.