Despite election meddling controversy the profit of social media giant Facebook jumps 79%

NewsBharati    02-Nov-2017
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Washington, November 2: Facebook, the US-based giant social media site has been facing criticism for its inability to prevent Russian meddling in 2016 US Presidential election. Despite Russia controversy, the profit level of Facebook has experienced a 79% jump in third-quarter. But it has clearly expressed that it does not want to get involved in any other controversy as it will invest more heavily in its safety and security operations. Its share price has also hit an all-time high.

The total revenue has a share of 98% of its ad revenue which is $10.14 billion in digital ad revenue. This is a 49% increase from last year. Facebook now has 2.06 billion monthly active users, up 3.19% compared to last quarter’s 2.006 billion and 3.4% growth rate. Some analysts predicted an estimated $9.84 billion total revenue increase but it reached to $10.33 billion, an increase of 47.3 percent. For the quarter revenues grew by $3.3 billion year-over-year. This is more than Twitter and Snapchat generate combined for the full year.

Now US lawmakers are probing Russian ad controversy. Hence despite the revenue growth, Facebook has become more alert. CEO Mark Zuckerberg while mentioned their business growth, also added, “But none of that matters if our services are used in ways that don't bring people closer together. We're serious about preventing abuse on our platforms. We're investing so much in security that it will impact our profitability. Protecting our community is more important than maximizing our profits.”