Facebook earnings show little adverse effect from data privacy fallout

  • Facebook earnings show little adverse effect from data privacy fallout

Facebook earnings show little adverse effect from data privacy fallout

Amid what is arguably the biggest crisis in its 14-year history, Facebook today (April 25) launched its largest-ever brand advertising campaign in the U.S., the same day it posted nearly $12bn in revenue for the first quarter.

Pachter forecasts $11.56 billion in revenue from the titan and $1.41 in EPS, more bullish than consensus of $11.41 billion and $1.36. During a conference call today, Zuckerberg acknowledged that Facebook has "faced important challenges" recently, but he highlighted that despite those the business and community are off to a strong start in 2018.

He added: "We are taking a broader view of our responsibility and investing to make sure our services are used for good".

In its notice on Wednesday, the government said Cambridge Analytica's response was "self evident that apart from being very cryptic, the unstated intention was to hide more than reveal", The Indian Express reported.

It had earlier questioned both the companies on the impact of the data breach, following which Facebook had admitted that almost 5.62 lakh people in India were "potentially affected" by the incident. By Pachter's estimation, global sequential monthly active users (MAU) growth hit roughly 59 million to 2.16 billion in the first quarter, with global sequential daily active user (DAU) growth potentially reaching 43 million to 1.44 billion. Both figures mark a 13% increase from the same quarter in 2017. The news prompted United States lawmakers to call CEO Mark Zuckerberg to Washington for two days of testimony about why Facebook failed to adequately safeguard as many as 87 million users' privacy.

No matter the deteriorating public sentiment or concern about the company's reliance on mobile ads, businesses are shelling out increasing amounts of money to get their brands in front of the social network's users. The more it shifts to mobile the more profitable it becomes, with the company's operating margin jumping to 46 percent from 41 percent in the same period past year.

"Protecting people's information is a top priority", Osborne said Wednesday.

However, contrary to stand taken by Cambridge Analytica, Facebook had said that around 5.62 lakh people in India could have been impacted by the data breach undertaken allegedly by the political consultancy.

"We are proud of the ad model we've built", she said. Saying that "data also helps us show you better and more relevant ads. Advertising-supported businesses like Facebook equalise access and improve opportunity".