Technology

Facebook, Inc. Common Stock (NASDAQ:FB) Registers Record Profit Despite Being At The Helm Of Global Maelstrom

Facebook, Inc. Common Stock (NASDAQ:FB) is still going strong despite all the dirt it faced over its security measures due to the Cambridge Analytica controversy and more. Recently the leading social networking site registered record profit and surprisingly even after being at the helm of the global maelstrom that affected major political parties and financial institutions in the world, it managed to maintain its profit run.

Recently the Menlo Park-based American company announced its quarterly revenue which amounted to $11.97 billion suggesting earnings per share to be $169, for 2.2 billion monthly active users, and 1.45 billion daily active users. Both these last two figures are up by 13% from same last quarter results of 2017.

So what are the factors that ensured that Facebook continues to become popular and remain unaffected by such global issues? Even the investors in the social networking company did not deter from continuing their support because they are quite aware that FB is in trouble but still know that it is highly valuable. So there was no chance of any investor pulling out giving shake offs to the Californian Company.

Mark Zuckerberg’s Confidence Made A Lot Of Difference

Another big reason is the confidence with which its founder, Mark Zuckerberg appeared before the United States Senate Committee on Commerce, Science and Transport and suggested how the United States can sort things out by coolly introducing a legislation similar to the General Data Protection Regulation (GDPR) by EU. So, he did manage to give an indirect solution to the problem created by the Cambridge Analytica issue. Moreover, with such a big and profitable ecosystem, Facebook has now become so enormous and expansive that it certainly cannot fail. Experts believe that even though there are a lot of loopholes in its working, the social media giant certainly can fix them in the coming days.

And as part of its improvement process, FB is now focusing on protecting private user data which can be a big game changer for many political campaigns. The new change in the security system of FB will make it difficult to deliver highly targeted, personal political messages which were the real cause of the problems caused earlier. Reports indicate that the new privacy effort will restrict the practice of micro targeting which was widely and successfully used by the campaign of Donald Trump in 2016 through Facebook.