By Levi Sumagaysay | [email protected] | Bay Area News Group PUBLISHED: January 30, 2019 at 1:36 pm | UPDATED: January 30, 2019 at 1:36 pm Despite being plagued with scandals and calls for big changes, Facebook on Wednesday reported record fourth-quarter profit and said that its user base continued to grow. The world’s largest social network posted $6.88 billion in net income, or $2.38 a share, in the quarter ended Dec. 31, up from $4.27 billion in the year-ago quarter, easily beating analysts’ expectations of $6.36 billion, or $2.18 a share. Facebook posted revenue of $16.44 billion, beating analysts’ expectations of $16.4 billion. The Menlo Park company also said its monthly active users rose 9 percent to 2.32 billion, beating analysts’ expectations of 2.31 billion. Facebook shares, which have fallen more than 33 percent since their 52-week high of $217.50 reached last July, rose 4.3 percent to $150.42 to close regular trading Wednesday … [Read more...] about Facebook posts record results, beating expectations amid increasing pressure
Facebook 2016 revenue
Another week, another scandal for Facebook. This one comes courtesy of a report from RevealNews, which obtained over 100 pages of court documents from a lawsuit by parents that revealed Facebook knowingly continued to let children buy in-game purchases with their parent’s credit cards without permission from them, which the company made millions in profits off of. As RevealNews reports: Facebook encouraged game developers to let children spend money without their parents’ permission – something the social media giant called “friendly fraud” – in an effort to maximize revenues, according to a document detailing the company’s game strategy. Sometimes the children did not even know they were spending money, according to another internal Facebook report. Facebook employees knew this. Their own reports showed underage users did not realize their parent’s credit cards were connected to their Facebook accounts and they were spending real money … [Read more...] about Facebook allowed children to spend their parents’ money without permission
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page By Hamza Shaban Washington Post January 16, 2019 WASHINGTON — Facebook announced on Tuesday it will commit $300 million to journalism projects to help local outlets strengthen their newsgathering operations and build their readership and subscription models.‘‘We’re going to continue fighting fake news, misinformation, and low quality news on Facebook,’’ said Campbell Brown, Facebook’s head of news partnerships in a company blog post. ‘‘But we also have an opportunity, and a responsibility, to help local news organizations grow and thrive.’’Among the funded initiatives are: a $20 million investment in a program to help local outlets design and execute subscription and membership models; a $5 million endowment to create a grant program with the Pulitzer Center for local multimedia reporting projects; … [Read more...] about Facebook is giving $300 million for local journalism
A new study by researchers at Princeton and New York University found that people over 65 years old were far more likely to share intentionally false or misleading information on Facebook than all other adults. Researchers looked at Facebook posts leading up to the 2016 presidential election and after, checking them for popular news domains known for spreading disinformation. The study did find, however, that the practice of sharing so-called fake news was fairly rare in general. A recently published study found that Facebook users over 65 years old were far more likely than other adults to share disinformation on social media. Researchers at both Princeton and New York University concluded that though the practice of spreading so-called fake news was rare overall, a person’s likelihood of sharing it correlated more strongly with age than it did education, sex, or political views. “No other demographic characteristic seems to have a consistent effect on sharing fake … [Read more...] about Baby boomers share nearly 7 times as many ‘fake news’ articles on Facebook as adults under 30, new study finds
By Levi Sumagaysay | [email protected] | Bay Area News Group PUBLISHED: January 10, 2019 at 8:47 am | UPDATED: January 10, 2019 at 9:15 am Amid continued concerns about the online sharing of disinformation, a new study about fake news during the 2016 election shows who was most likely to share it on Facebook: seniors and conservatives. Researchers from Princeton and New York University said in a study published Wednesday in the journal Science Advances that sharing of fake news on Facebook by users of the social network was “quite rare” (8.5 percent of those surveyed), but that those who did share fake news were older, regardless of political affiliation. More than 11 percent of people over age 65 shared links from fake news sites, compared with 3 percent of those ages 18 to 29. When political affiliation was taken into account, the most frequent sharers of fake news were conservatives and Republicans, according to the study. Eighteen percent of … [Read more...] about Who shared the most fake news on Facebook during 2016 election?