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Facebook earns bn despite the whistleblower scandal

Facebook earns $9bn despite the whistleblower scandal

Despite the allegations, shares in Facebook climbed by 1.3% in after hours trading on Monday. The firm's stock is up by about 20% so far this year.

Eray EliaçıkbyEray Eliaçık
26 October 2021
in Social Media, Tech
Reading Time: 1 min read
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Facebook has reported greater-than-anticipated profits for the third quarter, despite continuing bad publicity over leaked internal papers.

The social media giant made $9bn of profit in the three months to September, up from $7.8bn last year.

Facebook wins anyway: The firm made $9bn of profit in the three months

It’s being revealed in the midst of additional allegations of unethical behavior by a previous employee. Frances Haugen has made available to the public a trove of internal papers, alleging that Facebook prioritized financial gain above user security.

Facebook earns $9bn despite the whistleblower scandal
Facebook earns $9bn despite the whistleblower scandal

According to media reports, the papers reveal that Facebook frequently failed to moderate content that promoted hate speech and sex trafficking outside of the United States.

On Monday, Facebook chief executive Mark Zuckerburg told investors on a conference call: “What we are seeing is a coordinated effort to selectively use leaked documents to paint a false picture of our company.”

However, Facebook’s monthly user base has increased by 6% to 2.91 billion people during the same time period.

Tags: Facebookfeaturedhate speechprofitsocial mediauserwhistleblower
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Eray Eliaçık

Eray Eliaçık

Meet Eray, a tech enthusiast passionate about AI, crypto, gaming, and more. Eray is always looking into new developments, exploring unique topics, and keeping up with the latest trends in the industry.

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