What Data Scandal? Facebook Blows Past Earnings Estimates

“The recent Facebook/Cambridge Analytica revelations demonstrated exactly how personal data can be exploited in electoral contexts, and are a timely reminder that more is needed to secure resilient democratic processes”, the statement said.

A top Facebook executive confessed to United Kingdom lawmakers on Thursday that the company did not read all the terms and conditions associated with the app that ultimately shared the data of 87 million users with Cambridge Analytica. The company, based in New Florence, Missouri, operates adventure rides for people to glide along cables suspended 50 or 250 feet above the ground. Facebook will still maintain “a very strong position” relative to the rest of the ad industry she said.

Facebook and Alphabet’s Google together dominate the Internet ad business worldwide.

Small business owners also need to keep in mind that many people are newly aware of data issues or more cautious about their online behavior. “Not never, but rarely”, he said in response to a question asking if it fully audited every app.

The firm is best known for its collaboration with Donald Trump’s presidential campaign in 2016.

Shares of Facebook Inc rose as much as 8.5 percent on Thursday morning after another blockbuster set of quarterly results calmed stock investors’ nerves about the fallout of the Cambridge Analytica privacy scandal.

It said that it had 185 million users there, up from 184 million in the fourth quarter. “But if this is true and they do have the data, this is the problem we have today”.

Facebook has been surrounded in controversy over the way it treats users’ data since reports of the scandal first emerged in March.

Facebook’s Q1 net income was 49 percent higher than in the same period last year, and its mobile advertising generated 91 percent of Facebook’s total revenue, up from 85 percent last year.

Profile scraping was enabled by a design vulnerability which Facebook said until last week allowed third parties to submit “phone numbers or email addresses they already have” using the site’s search and account recovery function.

The companies are involved in investigations into how Facebook data may have been misused to help political campaigns target advertising on social media and whether there was collaboration between Brexit campaign groups. “I wouldn’t want to work at a company that I didn’t believe had integrity”.

Committee chairman Damian Collins has repeatedly asked Facebook founder Mark Zuckerberg to provide evidence to the inquiry but the company sent Mr Schroepfer instead.

“We must make sure they are not abusing their power”, Gabriel said.

And perhaps most strikingly, users continued to grow.

Mr Mitchell said Cambridge Analytica was extremely sorry it ended up in the possession of data that breached Facebook’s terms of service.

“I’d be surprised if it was one-off”, he says of the Cambridge Analytica situation.