Facebook earns $9bn despite whistleblower scandal

Facebook earns $9bn despite whistleblower scandal
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Daily US Times: In the third quarter of this year, Facebook has posted better-than-expected earnings, as it continues to face bad press over leaked internal documents.

Facebook made $9bn (£6.5bn) of profit in the three months to September, up from $7.8bn last year.

However, the social media giant was hit by a new privacy update to Apple’s iOS 14 operating system, which made it harder for brands to target ads at specific users.

It comes amid latest claims of unethical behaviour made by a former employee.

Frances Haugen, a former employee of Facebook, has released a cache of internal documents to the media, alleging that Facebook put profit before user safety.

Multiple media reports say the documents show the social media giant routinely failed to moderate content that promoted hate speech and sex trafficking outside of the US.

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

In the 12 months to 30 September, Facebook said its monthly user-base had grown 6% to 2.91 billion.

However, despite the strong profits of the social network company, its revenue slightly undershot analyst expectations, amid “headwinds” caused by Apple’s privacy rules.

The company said the privacy update would also have an impact on its digital business in the final quarter of the year, but that it expected to adjust to the changes in time.

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