Despite recent scandals, Facebook is performing better financially. Mark Zuckerberg finished with a profit of $ 9 billion in January-September after $ 7.8 billion last year. The company’s quarterly report found that advertisers were not particularly excited about dubious methods when it came to profitability.
There is no good magazine for the biggest social platform these days. The latest scandal is behind the company’s former product manager, Frances Havkan. The 37-year-old data expert worked as a product manager at the company from 2019 to 2021. After he left, he made public tens of thousands of internal documents on Facebook.
According to Haugen, Zuckergber’s company focused on profit rather than user protection.
In a 60-minute Sunday broadcast on CBS, one of the most-watched fact-finding television shows, he spoke of Facebook not taking enough action against hate, violence and misinformation.
According to leaked internal documents, they are also aware of the mental harm that Instagram does to young women, but they have done nothing. Moreover, according to their internal research, the photographer’s site exacerbated self-esteem problems for teens and increased suicidal thoughts.
The former employee likened social media to the tobacco industry, which has been under tight control for decades, and called on politicians to take similar action against Facebook.
Advertisers are not interested in methods
The methods of social media companies are, to put it mildly, not blocked by large non-profit organizations. In the three months to the end of September, its after-tax profit rose 17 percent to $ 9.19 billion, or $ 3.22 per share, from $ 7.85 billion in the third quarter of last year, to $ 2.71 per share. Analyst expectations averaged $ 3.19 lower returns per share.
Facebook’s revenue rose from $ 21.5 billion to $ 29 billion between January and September, most of which came from advertising. The company’s advertising revenue rose 33 percent to $ 28.28 billion.
They will change their name and change the verdict
Despite the scandals on Facebook, planning for the future is in full swing. Zuckerberg’s company is currently working on a “Metawares” project, In which human interactions can take place in a 3D environment.
New growth will make a difference Also the company needs to be renamed, which may be the basis, To further separate Zuckerberg’s targeted work from the flood of negative criticism currently facing Facebook in the process of the social platform.
Mark Zuckerberg will announce the name change at the company’s annual conference on October 28, according to U.S. sources. The Verge website knows that the name of the new company is kept secret from executives.
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