Facebook keeps earning despite data privacy scandal

Terry Joseph
April 28, 2018

The social networking giant said Wednesday that first quarter revenue jumped 49% year-over-year to $12 billion versus an expected $11.4 billion and earnings per share of $1.69, easily beating analyst estimates of $1.35.

Facebook CEO Mark Zuckerberg to face tough questions over the Cambridge Analytica data scandal.

"We didn't take a broad enough view of our responsibility and that was a big mistake. But we also need to keep building new tools to help people connect, strengthen our communities, and bring the world closer together". Daily active users grew 13 percent to 1.45 billion on strong growth in Asia-Pacific.

March 17, 2018: One of the largest data breach was in the history of Facebook, news broke out that Cambridge Analytica played a role in harvesting and misusing private and personal information from more than 50 million Facebook users.

MC HAMMER'S CAN'T TOUCH THIS is probably playing in Facebook HQ at the moment, as the social network has posted record profits in spite of the Cambridge Analytica scandal.

"We are unable to provide a specific time frame for when we will be reviewing apps for the platform again", Facebook replied, promising to provide more detail in the coming weeks. The data was gathered via a quiz app, "thisisyourdigitallife", developed by Aleksandr Kogan, then a psychology researcher with University of Cambridge, and his company Global Science Research, and was later passed to Cambridge Analytica without users' consent. Ads will also run in cinemas, and on Facebook itself (of course).

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Hospitals and other stakeholders are encouraged to view the planned updates and submit public comments on these changes here. Joseph's hospitals were awarded an "A" for efforts in protecting patients and meeting high safety standards.

"I understand that Facebook CEO, Mark Zuckerberg, will meet MEPs at the European Parliament next month".

In the United States, Facebook is facing the potential of massive fines from the Federal Trade Commission if the agency determines that the company misled users about its privacy protections.

Zuckerberg has since apologized and acknowledged he made a huge mistake in failing to protect user's data.

As many as one million British Facebook users may have had their data harvested because they were connected to U.S. users targeted in data passed to Cambridge Analytica, Schroepfer said. In the weeks following the disclosure, Facebook has faced increased scrutiny about how it handles sensitive user information.

Others aren't convinced. Oliver Coen, a watch company based in London, gets more than 80 percent of its sales in the US, and puts half its advertising dollars into Facebook. Facebook dispatched the unassuming engineer to London despite a previous request for Zuckerberg to appear.

"Parliament officials were trying to accommodate Facebook's requests this afternoon, the official said, and hope to officially announce the visit soon", the report said. "We're not going to be able to go out and find every single bad use of data, but what we can do is make it a lot harder for folks to do that going forward", he said.

Other reports by Free-Prsite

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