(Reuters) - Shares of Facebook Inc fell as much as 5 percent on Friday to their lowest in nearly three months after the surprise departure of Chief Product Officer Chris Cox, at a time when the company is again being scrutinized over its handling of privacy, extremism and political content. Cox, a Wall Street favourite who has worked with Facebook founder Mark Zuckerberg for 13 years, led the social network's business development team and helped define the business model of its messaging service WhatsApp. "We believe Cox played a critical role in establishing FB's mission, values, and culture, and he was extremely well-regarded inside and outside the company, including by Wall Street," JPMorgan analysts wrote in a research note. Also departing is WhatsApp Vice President Chris Daniels, adding to a string of recent high-profile exits from Facebook's product and communications teams. Facebook, Twitter and Google were also facing another round of public discussions over extremist content … [Read more...] about Facebook shares drop as execs quit, Christchurch live-stream shooting stirs outrage
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Facebook shares drop as executives quit, Christchurch live-stream…
(Reuters) - Shares of Facebook Inc fell as much as 5 percent on Friday to their lowest in nearly three months after the surprise departure of Chief Product Officer Chris Cox, at a time when the company is again being scrutinized over its handling of privacy, extremism and political content. FILE PHOTO: Silhouettes of laptop users are seen next to a screen projection of Facebook logo in this picture illustration taken March 28, 2018. REUTERS/Dado Ruvic/Illustration/File Photo Cox, a Wall Street favorite who has worked with Facebook founder Mark Zuckerberg for 13 years, led the social network’s business development team and helped define the business model of its messaging service WhatsApp. “We believe Cox played a critical role in establishing FB’s mission, values, and culture, and he was extremely well-regarded inside and outside the company, including by Wall Street,” JPMorgan analysts wrote in a research note. Also departing is WhatsApp Vice … [Read more...] about Facebook shares drop as executives quit, Christchurch live-stream…
Facebook shares rise as products back in focus after strong fourth…
(Reuters) - After 18 months of distraction defending itself over privacy and its role as a platform for electoral manipulation, Facebook Inc is focusing squarely on products after its strong fourth-quarter results won back investors, who sent its shares up nearly 12 percent on Thursday. A Facebook sign is seen during the China International Import Expo (CIIE), at the National Exhibition and Convention Center in Shanghai, China November 5, 2018. REUTERS/Aly Song/File Photo The social network has been spending heavily to boost user privacy on its platform following pressure from regulators and users around the world. But it reported better-than-expected profit and revenue on Wednesday, attributing the gains to higher ad sales and product improvements. “We’ve put most of our energy into security over the past 18 months, so that building new experiences wasn’t the priority over that period,” Mark Zuckerberg, the 34-year old billionaire and chief … [Read more...] about Facebook shares rise as products back in focus after strong fourth…
Facebook shares rise as products back in focus after strong Fourth quarter
By Munsif Vengattil (Reuters) - After 18 months of distraction defending itself over privacy and its role as a platform for electoral manipulation, Facebook Inc is focusing squarely on products after its strong fourth-quarter results won back investors, who sent its shares up nearly 12 percent on Thursday. The social network has been spending heavily to boost user privacy on its platform following pressure from regulators and users around the world. But it reported better-than-expected profit and revenue on Wednesday, attributing the gains to higher ad sales and product improvements. "We've put most of our energy into security over the past 18 months, so that building new experiences wasn't the priority over that period," Mark Zuckerberg, the 34-year old billionaire and chief executive officer of Facebook, told analysts on a post-earnings call. "So this year, I think we're going to deliver several of these new experiences," Zuckerberg said. Shares of the social media network rose … [Read more...] about Facebook shares rise as products back in focus after strong Fourth quarter
Zuckerberg: Facebook users can’t control how data is used for security
By Joe Williams Published January 25, 2019 Facebook FOXBusiness Facebook Twitter Comments Print video Facebook's fundamental business model is about selling people's information: Gerry Baker Wall Street Journal Editor-at-Large Gerry Baker on Facebook CEO Mark Zuckerberg's defense of the company. The massive trove of user data collected by Facebook, a practice that has come under intense federal scrutiny in the past year, is used to protect the integrity and safety of the platform but is not sold to outside advertisers, CEO Mark Zuckerberg argued in a new opinion piece. Continue Reading Below Facebook has been under siege from regulators, Congress and the public after it was uncovered that Cambridge Analytica -- a British political consulting firm hired by President Trump’s campaign in 2016 -- accessed the private information of millions of Facebook users. The platform has also faced pressure over its role in advancing … [Read more...] about Zuckerberg: Facebook users can’t control how data is used for security