Facebook's Privacy Scandal Appears to Have Little Effect on Its Bottom Line
Posted in: Surveillance & Privacy at 26/04/2018 15:12
Despite it all, the Facebook juggernaut marches on.
The social network is undergoing its worst crisis in its 14-year history as it faces a torrent of criticism about its privacy practices and the way it handles user data.
But on Wednesday, Facebook showed that — as with past scandals — the controversy is so far doing little to hurt its bottom line.
The Silicon Valley company reported a 63 increase in profit and a 49 percent jump in revenue for the first quarter, driven by continued growth in its mobile advertising business. Mobile advertising now represents more than 90 percent of Facebook’s advertising revenue.