Facebook on Monday announced more than $9 billion (about Rs 67,500 crore) in quarterly profits, hours after a US newsgroup reacted to reports that argued the company’s growth was a priority over people’s safety. Flood has been published. The social media giant is grappling with a new crisis after former employee Frances Haugen leaked internal studies that showed executives were aware of the potential for damage to their sites, leading to regulation. There was a renewed American push.
Facebook recently released results showing that its profit jumped to $9.2 billion for the quarter ended — a 17 percent increase — and its user rank rose to 2.91 billion. Facebook The tech titan would have brought in even more money if Apple didn’t update itself, executives said in an earnings call. iPhone Operating system to thwart advertisers tracking app users for ad targeting without permission.
“Overall, if it weren’t for Apple iOS 14 Facebook’s Chief Operating Officer Sheryl Sandberg said that regarding changes to iPhone software made in the name of protecting privacy, we may have seen positive quarterly revenue growth.
A few hours ago, new reports blamed the CEO Mark Zuckerberg Facebook, known for its platform bowing to state censors in Vietnam, has allowed hate speech to flourish internationally due to linguistic deficiencies, saying its algorithms fueled toxic polarization online.
US Senator Richard Blumenthal, a critic of Big Tech, said in a statement, “These damaging documents underscore that the Facebook leadership, while ignoring serious internal alarms, decided to benefit the public.”
News organizations such as The New York Times, The Washington Post and Wired were among those who now have access to a set of internal Facebook documents that Hogan originally leaked to US officials and which appeared in the Wall Street Journal series. appeared in. grounds for causing harm.
Facebook has criticized the reporting as an attempt to cast the social network used by billions of people in the wrong light.
“Criticism of goodwill helps us be better, but I think what we’re seeing is a selection of leaked documents to paint a false picture of our company,” Zuckerberg said in an earnings call. It is a coordinated effort.”
Mr Hogan, who testified on social media before British lawmakers on Monday, has repeatedly said that the company puts its continued growth and thus profit before the well-being and safety of users.
Describing the social media platform as “the easiest way to grow,” he told lawmakers, “Facebook is unwilling to accept even a small fraction of the profit being sacrificed for security, and that is not acceptable.”
Facebook has been in the grip of major woes before, but the current behind-the-scenes look at the insular company has sparked scathing reports and a renewed push from US lawmakers to crack down on social media.
Monday’s Washington Post news said Mr Zuckerberg had personally signed off on a push by Vietnam’s authoritarian government to limit the spread of so-called “anti-state” posts.
A Politico report called the documents a “treasury for Washington’s anti-trust fight” against the platform, revealing internal employee chats about Facebook’s global dominance.
One of Monday’s reports from website The Verge highlighted the company’s own concerns for its future.
“Teenage users of the Facebook app in the US were down 13 percent since 2019 and are projected to decline 45 percent over the next two years, leading to an overall decline in daily users in the company’s most lucrative advertising market.” Internal company research.
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