KXIP vs KKR Live Score

Facebook's quarterly sales rose by almost 50% in the social media giant's first results since a privacy scandal over users' data emerged.

Global daily users hit 1.45 billion in the first quarter, an increase of 13 percent year over year.

Facebook, which generates revenue primarily by selling advertising personalized to its users, has demonstrated for several quarters how resilient its business model can be as long as users keep coming back to scroll through its News Feed and watch its videos. It's also rolling out ad transparency tools giving users the ability to see who is running a political ad, who they're targeting, how much they're paying and what other messages they're sending out.

A miffed Indian government on Wednesday shot off the second set of notices to social networking site Facebook and Cambridge Analytica, seeking more answers and details on the data breach issue.

The number of daily active users in Canada and the US - its most lucrative advertising demographic - rose by 100,000 from the previous quarter to 185 million. Its headcount stood at just under 28,000 at the end of March - 48% higher than this time previous year. The company's operating expenses came in below consensus expectations, though Zuckerberg has warned they will continue to eat into Facebook's profits as it adds 20,000 workers to address security and privacy concerns.

Facebook said as many as 87 million users could have unwittingly had their data obtained by political consulting firm Cambridge Analytica through a third-party app.

Facebook's shares rose 6.8 per cent in after-hours trading to US$170.56. His firm holds about 73,000 shares in Facebook.

Past five months have been a nightmare, says Meek Mill
The hip hop community has been reacting on Twitter to Meek Mill's release from prison on Tuesday afternoon. A team of lawyers and public relations consultants had waged an all-out battle to get him freed on bail.

Major Gmail revamp includes snoozing, smart replies, and self-destructing emails
Yes, bizarrely, even though Gmail has included Tasks from the outset, this marks the first time it has had its own app. Last year, Google brought smart replies to Gmail's mobile apps, and it's now available on the web as well.

Giants' Brandon Belt sets Major League Baseball record with epic 21-pitch at-bat
Johnny Cueto (2-0) took a no-hitter into the sixth and allowed only two hits and struck out seven in six scoreless innings. Belt broke the record of 20, which was set in 1988 when Houston's Ricky Gutierrez faced Cleveland's Bartolo Colon .

Facebook appears to have weathered a string of controversies - over foreign election meddling, fake news, shady advertising and misuse of data - with hardly any affect on its bottom line so far.

The Australian Competition and Consumer Commission is now scrutinising the role of digital platforms in diverting advertising away from traditional media companies, as well as how much users know about the data being collected about them.

The company's net income grew 63 per cent to $US4.99 million, while diluted earnings per share was at $1.69 - also up 63 per cent on the prior corresponding period.

Stoked by fears that the data may have been used to try and influence elections in the U.S. and Europe and the discovery that Facebook collects a lot more data than the average person realises (including web browsing history and, in some cases, text messages), some users have started a #DeleteFacebook movement, including the co-founder of the Facebook-owned WhatsApp.

The company's healthy ad business drew the vast majority of sales, but investors often look to the company's nascent Messenger and WhatsApp divisions as potentially massive sources of revenue in the future.

When asked about the business impact of the changes at the February Morgan Stanley tech conference in San Francisco, Facebook Chief Financial Officer David Wehner told analysts that spending less time on the platform doesn't necessarily mean a corresponding decline in revenue.

Zuckerberg said the two days of hearings this month were "an important moment for the company to hear the feedback, and to show what we're doing".


COMMENTS