{"id":26944,"date":"2019-04-24T00:39:44","date_gmt":"2019-04-24T00:39:44","guid":{"rendered":"https:\/\/packetstormsecurity.com\/news\/view\/30069\/Facebook-Profits-Likely-To-Fall-After-Fake-News-And-Privacy-Scandals.html"},"modified":"2019-04-24T00:39:44","modified_gmt":"2019-04-24T00:39:44","slug":"facebook-profits-likely-to-fall-after-fake-news-and-privacy-scandals","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/facebook-profits-likely-to-fall-after-fake-news-and-privacy-scandals\/","title":{"rendered":"Facebook Profits Likely To Fall After Fake News And Privacy Scandals"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/i.guim.co.uk\/img\/media\/90c56fe1ea72838741b36b64e0f92c1a4857175a\/398_0_2634_1580\/master\/2634.jpg?width=1200&amp;height=630&amp;quality=85&amp;auto=format&amp;fit=crop&amp;overlay-align=bottom%2Cleft&amp;overlay-width=100p&amp;overlay-base64=L2ltZy9zdGF0aWMvb3ZlcmxheXMvdGctZGVmYXVsdC5wbmc&amp;s=cc2ebceb13bef337610d2cd6767af4f9\" class=\"ff-og-image-inserted\"><\/div>\n<p><a href=\"https:\/\/www.theguardian.com\/technology\/facebook\" data-link-name=\"auto-linked-tag\" data-component=\"auto-linked-tag\" class=\"u-underline\">Facebook<\/a> is this week expected to report a rare decline in profits after a string of privacy breaches and fake news scandals.<\/p>\n<p>With its founder and chief executive <a href=\"https:\/\/www.theguardian.com\/technology\/mark-zuckerberg\" data-link-name=\"auto-linked-tag\" data-component=\"auto-linked-tag\" class=\"u-underline\">Mark Zuckerberg<\/a> under pressure to clean up the social network, analysts predict the company\u2019s net profit will drop to $4.7bn (\u00a33.6bn) in the first quarter, from nearly $5bn a year ago.<\/p>\n<p>It would be the first fall in quarterly profits since mid-2015.<\/p>\n<p>Analysts also forecast that Facebook\u2019s annual profits for 2019 will be just below last year\u2019s $28.7bn (\u00a322.1bn), as it spends on countering fake news and illegal content, and tackling data breaches and privacy concerns.<\/p>\n<p> Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk<\/p>\n<p>Facebook continues to pull in more users and advertising, however, and turnover in the first three months of the year is forecast to climb to $15bn <a href=\"https:\/\/www.theguardian.com\/technology\/2018\/apr\/25\/facebook-first-quarter-2018-revenues-zuckerberg\" data-link-name=\"in body link\" class=\"u-underline\">from $12bn<\/a>.<\/p>\n<aside class=\"element element-rich-link element--thumbnail element-rich-link--not-upgraded\" data-component=\"rich-link\" data-link-name=\"rich-link-3 | 1\">\n<div class=\"rich-link\">\n<div class=\"rich-link__container\">\n<div class=\"rich-link__header\">\n<h2 class=\"rich-link__title\">Is Facebook spying on you?<\/h2>\n<\/div><\/div>\n<\/div>\n<\/aside>\n<p>The string of scandals include Facebook\u2019s role <a href=\"https:\/\/www.theguardian.com\/technology\/2017\/oct\/30\/facebook-russia-fake-accounts-126-million\" data-link-name=\"in body link\" class=\"u-underline\">in Russia\u2019s alleged influence<\/a> on the 2016 US presidential election, and the Guardian\u2019s <a href=\"https:\/\/www.theguardian.com\/uk-news\/2019\/mar\/21\/facebook-knew-of-cambridge-analytica-data-misuse-earlier-than-reported-court-filing\" data-link-name=\"in body link\" class=\"u-underline\">revelations that Cambridge Analytica<\/a>, a political consultancy hired by Donald Trump\u2019s 2016 presidential campaign, obtained personal data from millions of profiles without consent.<\/p>\n<p>Facebook was labelled \u201c<a href=\"https:\/\/www.theguardian.com\/technology\/2019\/apr\/08\/facebook-are-morally-bankrupt-liars-says-new-zealands-privacy-commissioner\" data-link-name=\"in body link\" class=\"u-underline\">morally bankrupt pathological liars<\/a>\u201d by New Zealand\u2019s privacy commissioner this month after <a href=\"https:\/\/www.theguardian.com\/us-news\/2019\/mar\/29\/facebook-new-zealand-christchurch-attack-response\" data-link-name=\"in body link\" class=\"u-underline\">hosting a livestream<\/a> of the Christchurch attacks that left 50 dead. In an interview after the attacks, Zuckerberg refused to commit to any changes to the platform\u2019s live technology, including a time delay on livestreams.<\/p>\n<p>Facebook, which owns Instagram, last week admitted that <a href=\"https:\/\/www.theguardian.com\/technology\/2019\/apr\/18\/instagram-facebook-password-lapse-privacy-breach-data-exposed-\" data-link-name=\"in body link\" class=\"u-underline\">millions more Instagram users were affected<\/a> by <a href=\"https:\/\/www.theguardian.com\/technology\/2019\/mar\/21\/facebook-admits-passwords-unprotected\" data-link-name=\"in body link\" class=\"u-underline\">a security lapse<\/a> than it had previously disclosed. It had mistakenly stored the passwords of hundreds of millions of users without encryption.<\/p>\n<aside class=\"element element-rich-link element--thumbnail element-rich-link--not-upgraded\" data-component=\"rich-link\" data-link-name=\"rich-link-3 | 2\">\n<div class=\"rich-link\">\n<div class=\"rich-link__container\">\n<div class=\"rich-link__header\">\n<h2 class=\"rich-link__title\">Facebook is asking to be regulated but wants to choose how | Emily Bell<\/h2>\n<\/div><\/div>\n<\/div>\n<\/aside>\n<p>Zuckerberg has pledged major reforms. The company hired thousands more <a href=\"https:\/\/www.theguardian.com\/technology\/2017\/may\/03\/facebook-live-zuckerberg-adds-3000-moderators-murders\" data-link-name=\"in body link\" class=\"u-underline\">content reviewers<\/a> to police its websites and stem a rise in violent videos, after a Thai man two years ago <a href=\"https:\/\/www.theguardian.com\/technology\/2017\/apr\/25\/facebook-thailand-man-livestreams-killing-daughter\" data-link-name=\"in body link\" class=\"u-underline\">livestreamed footage of himself<\/a> killing his 11-month-old daughter.<\/p>\n<p>Facebook is using artificial intelligence to tackle fake news and hate speech, and to <a href=\"https:\/\/www.theguardian.com\/technology\/2019\/apr\/09\/facebook-to-use-artificial-intelligence-to-stop-telling-users-to-say-hi-to-dead-friends\" data-link-name=\"in body link\" class=\"u-underline\">stop suggesting users invite their dead friends to parties<\/a>.<\/p>\n<p>The Californian company also last year more than <a href=\"https:\/\/www.theguardian.com\/technology\/2019\/apr\/13\/facebook-spends-226m-to-keep-mark-zuckerberg-safe-last-year\" data-link-name=\"in body link\" class=\"u-underline\">doubled the money it spent on Zuckerberg\u2019s<\/a> security to $22.6m.<\/p>\n<p>Facebook is finally preparing to yield to pressure from Brussels over criticism that its new rules on online political advertising restrict EU parties from campaigning in the European elections in May.<\/p>\n<aside class=\"element element-rich-link element--thumbnail element-rich-link--not-upgraded\" data-component=\"rich-link\" data-link-name=\"rich-link-3 | 3\">\n<div class=\"rich-link\">\n<div class=\"rich-link__container\">\n<div class=\"rich-link__header\">\n<h2 class=\"rich-link__title\">EU tells Facebook&#8217;s Nick Clegg to rethink ad rules for elections<\/h2>\n<\/div><\/div>\n<\/div>\n<\/aside>\n<p>Nick Clegg, Facebook\u2019s head of global affairs and the former Liberal Democrat leader, has written to Antonio Tajani, president of the European parliament, to say the company is exploring ways to exempt 19 European political parties and institutions from the campaign rules.<\/p>\n<p>Clegg\u2019s comments are a response to a backlash created by Facebook\u2019s new <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-04-10\/facebook-expanding-efforts-to-block-false-information\" title=\"Related Story\" data-link-name=\"in body link\" class=\"u-underline\">transparency rules<\/a> that would require people or groups posting political ads to register in each EU state where the ads appear.<\/p>\n<p>Clegg said Facebook was \u201cexploring whether we can technically build tools that would allow authorised administrators of the 19 institutional pages we identified to target ads to people right across the EU\u201d, Clegg wrote in the letter, according to the FT. \u201cIt will be a challenge to do this in the requested timescale and I will need to confirm whether or not it is possible with you if we agree that this is the right solution.\u201d<\/p>\n<p> READ MORE <a href=\"https:\/\/packetstormsecurity.com\/news\/view\/30069\/Facebook-Profits-Likely-To-Fall-After-Fake-News-And-Privacy-Scandals.html\">HERE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>READ MORE HERE&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","footnotes":""},"categories":[60],"tags":[6583],"class_list":["post-26944","post","type-post","status-publish","format-standard","hentry","category-packet-storm","tag-headlineprivacyrussiadata-lossfraudfacebooksocial"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Facebook Profits Likely To Fall After Fake News And Privacy Scandals 2026 | ThreatsHub Cybersecurity News<\/title>\n<meta name=\"description\" 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