Subscribe to our free daily newsletters
. Military Space News .




Subscribe to our free daily newsletters



CYBER WARS
Amid soaring profits, Facebook vows to curb abuse
By Glenn CHAPMAN
San Francisco (AFP) Nov 2, 2017


Facebook on Wednesday reported that profits leapt on booming revenue from online ads in the third quarter, topping investor forecasts and buoying shares already at record highs.

The leading social network said it made a profit of $4.7 billion in the quarter that ended on September 30, a jump of 79 percent from the same period a year earlier.

Chief executive Mark Zuckerberg used the update to address criticism of Facebook for allowing disinformation and manipulation during the 2016 US presidential election, hours after the company's top lawyer faced a grilling at a Washington congressional hearing.

"Our community continues to grow and our business is doing well," Zuckerberg said.

"But none of that matters if our services are used in ways that don't bring people closer together. We're serious about preventing abuse on our platforms. We're investing so much in security that it will impact our profitability. Protecting our community is more important than maximizing our profits."

Facebook shares that ended the day up 1.4 percent to $182.66 but retreating in after-market trades to $179.25.

Investor enthusiasm may have been tempered by rising costs at the California-based internet giant and executives stressing the company is firmly in "investment mode" while predicting ad growth will slow.

"They made a ton of money but the Russia investigation is clearly putting a cloud over everything for the moment," said independent analyst Rob Enderle.

"Sometimes it just takes a trigger event to cause a bunch of people to take their profit and go someplace else, especially if they have decided this is as good as it is going to get at Facebook for a while."

The analyst added that some investors might be worried that the probed into Russia meddling with US politics will result in regulation on social networks that might hurt profitability.

- Investment mode -

Expenses rose to $5.2 billion from $3.9 billion in the same quarter last year, and headcount at the company was up 47 percent to 23,165 employees.

"We will continue to invest aggressively in the many opportunities we see ahead," Facebook chief financial officer David Wehner said during an earnings call with analysts.

Zuckerberg outlined investment priorities that included video content, which he described as the biggest trend at Facebook.

The number of monthly active users at the social network continued to grow, reaching 2.07 billion, an increase of 16 percent from the same time last year.

Advertising served up on smartphones or tablets accounted for about 88 percent of revenue taken in from marketing messages in the quarter, Facebook reported.

The quarterly earnings report was released as Facebook and other internet titans testified this week before Congress about a Russian-led effort to spread misinformation and sow discord ahead of the 2016 US election.

- New details on meddling -

Facebook told Congress on Wednesday that the apparent political meddling included use of its image-oriented messaging service Instagram.

Facebook general counsel Colin Stretch told a hearing that Instagram posts by suspect Russian accounts were seen by some 20 million Americans last year.

"We now discovered, in the last 48 hours, 120,000 Russian-based posts on Instagram," Stretch told the Senate Intelligence Committee hearing.

The latest data on Instagram is on top of the estimated 126 million Americans exposed to Facebook posts from Russian entities seeking to create divisions during the election campaign.

"So all told, that gets you to approximately -- a little less than 150 million," Stretch said in response to questioning from Democratic Senator Mark Warner.

Senator Dianne Feinstein of California told the hearing which included lawyers for Facebook, Google and Twitter that the companies need to do more to help combat "cyber warfare."

"I asked specific questions, I got vague answers, and that just won't do," she told the companies.

"You have a huge problem on your hands... You've created these platforms, and now they are being misused, and you have to be the ones to do something about it, or we will."

The hearing was the second in Congress this week in which social media and internet firms have been called to explain how fake news and other disinformation was allowed to spread during the election campaign.

"I've expressed how upset I am that the Russians tried to use our tools to sow mistrust," Zuckerberg said

"What they did is wrong and we are not going to stand for it."

CYBER WARS
China says social media companies must 'punish' employees
Beijing (AFP) Oct 31, 2017
China has ordered online platforms to punish staff who spread "illegal" content domestically, in the latest move by authorities to tighten policing of the web. Service providers must "establish a sound information security management system", the Cyberspace Administration of China (CAC) said in a Monday statement. "While we benefit from new applications or technologies... they are also ... read more

Related Links
Cyberwar - Internet Security News - Systems and Policy Issues


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

CYBER WARS
Russia conducts ballistic missile tests

Report: Japan eyeing SM-6 missiles for defense program

Lockheed Martin missile defense sensor technology receives prototyping contract

Lockheed Martin to develop missile defense tools under DoD deal

CYBER WARS
Indonesia orders NASAMS air defense system

Brazil orders man-portable air defense system from Saab

Royal Canadian Air Force to buy air-to-air missiles from U.S.

Iran says to continue developing ballistic missiles

CYBER WARS
Insitu awarded $9.2M for parts, sustainment of RQ-21A

New RoboBee flies, dives, swims and explodes out the of water

Boeing invests in autonomous flight technology company

Drone Aviation awarded contract for Enhanced WASP Tactical Aerostat from US Defense Dept

CYBER WARS
82nd Airborne tests in-flight communication system for paratroopers

16th SPCS Defenders of critical satellite communications

NRL clarifies valley polarization for electronic and optoelectronic technologies

Harris supplying tactical radios to Navy, Marines

CYBER WARS
US court blocks Trump's military transgender ban

CACI International to support Army C4ISR

State Department approves Kuwaiti M1A1 tank deal

Lockheed gets Air Force production order for Paveway II kits

CYBER WARS
Lockheed, Navantia renew collaborative agreement

Philippines' Duterte receives Russian assault rifles

Whistleblower protection bill sent to President as complaints of retaliation grow

UK defence giant BAE Systems to axe almost 2,000 jobs

CYBER WARS
As China aims for 'world-class army', Asia starts to worry

Japan PM Abe begins new term with vow to increase North Korea pressure

China crowns Xi with name once reserved for Mao Zedong

China, ASEAN hold joint naval drills as tensions ease

CYBER WARS
New research explore the limits of nanomaterials and atomic effects for nanotechnology

Researchers reveal the effect of nano-diamond on magnetorheological fluids

Researchers show how nanoscale patterning can decrease metal fatigue

New technique produces tunable, nanoporous materials




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement