Facebook beats revenue, profit estimates, shares rise

The worlds largest social network has faced scrutiny over the past three years from regulators and users worldwide over its privacy practices and data breaches.

It is also feeling the heat from politicians on how its services have been used to spread misinformation about politics and health.

Federal Trade Commission data privacy probe, has warned that new rules and product changes to protect users privacy would slow its revenue growth into next year and significantly raise expenses.

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Author: Reuters Editorial

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Reuters Editorial has recently written 11 articles on similar topics including :
  1. "India's information technology minister accused Facebook on Tuesday of censoring content from people supportive of right wing ideology in the latest salvo at the social media giant over content regulation in its biggest user market". (September 1, 2020)
  2. "Facebook Inc said on Wednesday it removed the page for the Kenosha Guard, a group which had posted a "call to arms" following days of protests in Kenosha, Wisconsin, saying the page violated its policy against "militia organizations". (August 26, 2020)
  3. "Facebook said on Tuesday it was planning to legally challenge the Thai government after being "compelled" to block access within Thailand to a group with 1 million members that discusses the country's king". (August 25, 2020)
  4. "British finance minister Rishi Sunak plans to drop a tax on technology companies such as Facebook and Google because it does not raise much money and could hurt a push for a U.S. trade deal, the Mail on Sunday newspaper said". (August 23, 2020)
  5. "FacebookChief Executive Officer Mark Zuckerberg said on Friday the company was at fault for not removing the page and event for a militia group before two people were killed at a protest in Kenosha and deemed it "largely an operational mistake"". (August 28, 2020)
  6. "Social media companies Facebook Inc and Twitter Inc have announced crackdowns on content linked with the unfounded and sprawling conspiracy theory QAnon". (August 29, 2020)
  7. "Facebook Inc said on Friday that Apple Inc has declined its request to waive off the 30% commission fee it takes from apps listed on iOS devices, making a rare critique of a fellow big tech peer". (August 14, 2020)
  8. "Facebook confirmed on Thursday that chief executive Mark Zuckerberg was interviewed earlier this week at a Federal Trade Commission (FTC) investigative hearing as part of the government's antitrust probe into the social media company". (August 20, 2020)
  9. "Facebook France has accepted paying more than 100 million euros in taxes, including a penalty, relating to its accounting years before 2018, French financial magazine Capital reported on its website". (August 24, 2020)
  10. "Facebook Inc made an "operational mistake" in not acting sooner to remove a page for a militia group that posted a call to arms in Kenosha, Wisconsin, the company's Chief Executive Mark Zuckerberg said on Friday". (August 29, 2020)
  11. "Some European Union regulators objected to Ireland's preliminary ruling in a landmark privacy investigation of Twitter, the lead regulator said on Thursday, triggering a process where a majority decision will be sought". (August 20, 2020)
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