Facebook quarterly profit rises on mobile ad growth

02 November, 2017, 00:53 | Author: Katrina Soto
  • Facebook vows to double its cyber safety and security staff

Overall, given Zuckerberg's comments and its expense estimate increase, Facebook seems to be taking the Russian security and ad transparency issues extremely seriously.

During its hearing, the House Intelligence Committee officially released a sampling of Facebook ads and Twitter handles tied to the Russian troll farm known as the Internet Research Agency.

"You created these platforms and now they are being misused". Mark Warner of Virginia, ranking member on the committee.

"Candidly, your first presentations were less than sufficient and showed in my mind a lack of resources a lack of commitment and a lack of genuine effort", he continued.

The top Democrat on the Senate Intelligence Committee said his questions about the interference were "blown off" by the companies until this summer.

"I must say I don't think you get it", said California Sen. "What we're talking about is a cataclysmic change". You have a huge problem on your hands and you bear the responsibility.

"We're deeply concerned. This is an issue that we talk about constantly", Sean Edgett, Twitter's acting general counsel, said at the hearing.

That comes after Zuckerberg opened wrote in today's earnings release that "We're serious about preventing abuse on our platforms".

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Facebook General Counsel Colin Stretch told the committee that 16 million Americans may have been exposed to Russian information on Facebook's picture-sharing service Instagram beginning in October 2016.

"A lot of folks, including many in the media, have tried to reduce this entire conversation down to one premise: foreign actors conducted a surgically executed covert operation to help elect a United States president", Burr said. Each general counsel also struggled to name an executive at their company who is specifically tasked with overseeing the threat.

Facebook's Russian Federation problem isn't affecting the company's business. "They are much more widespread than one election", Rubio said. In fact, the ads are so lame that I initially thought the Politico story was a prank.

"This is another example of how people are lured in", said Sen. Facebook had previously disclosed that 126 million accounts were served that content on Facebook. It is not clear how many of those 150 million people actually saw the content, however.

Facebook employed 23,165 at the end of September, an increase of 47 percent over a year ago.

Facebook's ability to target advertising has become so effective that some in Congress have discussed regulating political advertising, especially in the wake of testimony about the extent to which Russian operatives used its platform to spread misinformation during the 2016 elections.

During the hearings, Facebook downplayed the potential reach of ads bought by Russia's Internet Research Agency. Experts have said that the Russians' goals included promoting discord in the US and inciting violence.

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