#Deletefacebook Didn't Happen: Facebook Grows Users in Q1, Beats Earnings Estimates

Federico Mansilla
Abril 28, 2018

Cubeyou says it "played by the book" with Mr Treu telling the BBC's Asia Business Report that the firm had been a certified Facebook partner for six years and had invested heavily in the platform.

Appearing before the Digital, Culture, Media and Sport select committee, he said: "The collaboration we saw was some billing and administration contacts between the two of them".

Under the new policies, those seeking to run political adverts will be required to complete an authorisation process.

On top of this, adverts that are political will have to display who paid for them and be clearly labelled as "political".

Last month, news of a data breach involving Cambridge Analytica, in which the political data analysis firm got information on over 87 million Facebook users without their consent to aid the Trump campaign in the 2016 USA presidential race, sent shares of the high flying FAANG stock on a roller-coaster ride.

The leak also included 311,127 users of the social media network in Australia.

"The question isn't if [there will be regulation]; the question is, honestly, how do we ensure that the regulation and practices achieve the goals you want?" he said. "We made mistakes and we are taking steps to make sure it doesn't happen again", Schroeder wrote.

Schroepfer's written evidence also revealed Facebook had investigated accusations around the involvement of data firm Cambridge Analytica in the 2016 Brexit referendum.

His apology came after Facebook was embroiled in a widening scandal that the British data firm CA had improperly gathered detailed Facebook information on 87 million users, up from a previous estimate of more than 50 million.

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Tighter regulation could make Facebook's ads less lucrative by reducing the kinds of data it can use to personalize and target ads to users, although Facebook's size means it could also be well positioned to cope with regulations.

"I'm terrified at the thought of legislation coming through those sorts of channels", said Tania Yuki, CEO and founder of social analytics company Shareablee, during a town hall discussion on data collection and privacy hosted by the Advertising Research Foundation (ARF) on Thursday. "The details of implementing all that is where the really hard work is". Advertisements on Facebook would carry the label "political ad", and give a link to who bought it. Moreover, such ads will be stored in an archive for 7 years and will include general information about the money spent on them and the demographic information.

The archive should be rolled out in time for United Kingdom local elections in May 2019, Mr Schroepfer added.

That's according to Seán Kelly, MEP, who said that Zuckerberg will discuss issues of privacy, data protection and more.

He also told MPs Facebook would consider using facial recognition technology to stop celebrities such as Martin Lewis being used in scam ads without their permission.

Independent analyst Richard Windsor, despite being bearish, also doubts Facebook has much to fear from the GDPR regulator - Ireland's Data Protection Commissioner (DPC) will be responsible for overseeing Facebook because its main European Union office is in Dublin.

He said the company's behaviour was not meant to be interpreted as an attempt to stop the story becoming public, despite letters having been sent to The Guardian in March threatening to sue.

Daniel Morgan, senior portfolio manager at Synovus Trust Company, which holds about 73,000 shares in Facebook said on Thursday, "Everybody keeps talking about how bad things are for Facebook, but this earnings report to me is very positive, and reiterates that Facebook is fine, and they'll get through this".

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