Facebook Chief Executive Officer Mark Zuckerberg testifies before the House Financial Services Committee on Capitol Hill in Washington, Wednesday, Oct. 23, 2019, to discuss his plans for the new cryptocurrency Libra.FacebookOver the past two years, the social networking firm has been wracked by scandals — but this hasn't meaningfully damaged its fundamental business.
On Wednesday, Facebook will report its third-quarter earnings, and industry watchers are largely expecting another solid quarter.Despite non-stop scandals — from Cambridge Analytica to its role in spreading hate speech in Myanmar that helped fuel genocide — the Silicon Valley social networking giant has continued to be a ruthlessly efficient money-printing machine, generating billions in profits and consistently growing its user base.
The positivity from industry watchers ahead of the $540 billion company's earnings highlight the array of business opportunities still open to the company, 15 years after Facebook was formally founded — and how negative headlines and regulatory scrutiny surrounding Facebook are shrouding consistently strong fundamentals.
Today, the most prominent spectre looming over Facebook is likely the possibility of antitrust action. This could strike at the heart of the company's business in a way that previous scandals and regulatory issues have failed to do.
Source: News Formal (newsformal.com)
What kind of fools are we?
Yeah but how many users did they lose besides me?
$elling it's customers data is a good business, especially since the customers GIVE it away for a few likes. F'n hilarious !!! 😂😂😂😂
It's a private company, people always tend to forget that.
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