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Facebook's Q3 Revenue & Earnings Top Estimates, Says Security Costs Will Impact Profit

02 November 2017

"You created these platforms and now they are being misused".

In the USA, 3 percent of Facebook's workforce is black. Mark Warner of Virginia, ranking member on the committee.

Colin Stretch, Facebook's general counsel, also revealed at the Senate Intelligence Committee that the 126 million of its US users exposed to content from Russian accounts did not include Instagram - where an "additional 16 million people" viewed such content since October 2016.

A Russian-run page entitled "Donald Trump America" called for "disqualification and removal of Hillary Clinton from the presidential ballot" and ran an ad linking to the White House's crowdsourced petition site, on which there was a petition that claimed the "dynastic succession of the Clinton family in American politics breaches the core democratic principles laid out by our Founding Fathers". "And even without legistialstion, we're already moving forward on our own to bring advertising on Facebook to an even higher standard of transparency than ads on TV or other media".

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Because Facebook charges based on the number of views, the ad cost less than six rubles (10 cents). They faced a Senate Judiciary subcommittee yesterday and will appear before a House panel later today. Rep. Adam Schiff, the top Democrat on the committee, said at the hearing that the committee still expects to release all of the ads eventually. "Given the seriousness of the issue, it's shocking that @google, @facebook & @twitter choose to not send their CEOs", Jason Calacanis, an early Uber investor, said on Twitter.

The ads released by Conaway were all paid for in Russian rubles and directed users to pages that targeted different groups: "Blactivist", "Woke blacks", "South United", "Being Patriotic" and "Back the Badge".

One ad from a group calling itself "Heart of Texas" promoted a rally in Houston on May 21, 2016 to "Stop Islamization" in the US state.

Some Republicans also sought to portray the amount of Russian content as miniscule compared to the total amount of political material online.

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"This is whole lot broader than simply the 2016 election", Sen.

During the hearings, Facebook downplayed the potential reach of ads bought by Russia's Internet Research Agency.

Wehner admits that Facebook has increased its estimation of false accounts from 1% last quarter to 2% to 3% this quarter.

Wednesday's results came right after Facebook wrapped up its third congressional hearing on Capitol Hill where its top lawyer, Colin Stretch, answered questions about the Kremlin-linked Russian influence campaign.

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Facebook's Q3 Revenue & Earnings Top Estimates, Says Security Costs Will Impact Profit