Facebook Records Bumper Advertising Revenue amid Hearings

Published By : 02 Nov 2017 | Published By : QYRESEARCH

Facebook recorded bumper advertising revenue in October, with the third quarter raking in more than US$10 bn for the social media giant. This comes on a background dominated by congressional hearings about the possible role played by Facebook in manipulating popular opinion in the 2016 U.S. elections. Chief executive Mark Zuckerberg had the hearings very much in mind when warning investors that these promising number for advertising revenue don’t ensure steady long term profitability in the future, as the results of the hearings could significantly alter how Facebook’s advertising algorithms operate.

Facebook has more than six million active advertisers, making the company certain of future growth. However, the pace of expansion of Facebook’s advertising is likely to slow down in the coming years.

Zuckerberg has lent his support to the hearings and the legal processes examining the social media platform for keys to how it could enable counterfeit accounts to spread fake information, saying he prioritizes the health of the Facebook community over maximizing its bottom line. However, his support has always been accompanied by the caveat that identifying the problematic factors will be a very difficult task, even for the U.S.’s legal force. Zuckerberg himself seems to have been taken aback by the possibility of a major impact by Facebook on popular understanding of the country’s political situation, but while he called the idea of misinformation through Facebook playing a role in the Presidential election “pretty crazy”, Facebook admitted on Wednesday almost 150 million people may have been contacted by Russian propagandists.

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