SAN FRANCISCO: Facebook reported on Wednesday (Jul 24) that its quarterly profit plummeted due to the cost of a US privacy settlement and forecast ...
SAN FRANCISCO: Facebook reported on Wednesday that its quarterly profit plummeted due to the cost of a US privacy settlement and forecast that regulation would slow its money-making ad machine.
Facebook will also be required to conduct a privacy review of every new or modified product, service, or practice before it is implemented, including for its WhatsApp and Instagram services. The number of monthly users topped 2.7 billion when taking into account Instagram, WhatsApp and Messenger along with the main social network, according to Facebook.
Compounding the effect of controls such as the General Data Protection Regulation in Europe and increased focus on privacy in operating systems and products are"creating headwinds that we think are going to impact us as we get later in the year and into 2020," said chief financial officer David Wehner.
Zuckerberg renewed his call for legislators around the world to set clear, uniform standards on important issues such balancing free speech with fighting online bullying or election meddling.
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