Facebook growth unabated by headwinds

Facebook growth unabated by headwinds

Facebook CEO Mark Zuckerberg used its Q3 earnings call to address challenges confronting the company and noted it is growing despite these major obstacles.

The executive referenced recent changes made by Apple to protect user privacy, which make it much harder for Facebook and other services to deliver targeted advertising.

“As expected, we did experience revenue headwinds this quarter”, Zuckerberg said.

Facebook warned investors about the impact of Apple’s changes more than a year ago. The social media company’s revenue increased 35 per cent year-on-year to $29 billion despite the iOS move, with net income of $9.2 billion up 17 per cent.

Daily active users rose 6 per cent to 1.9 billion.

Facebook COO Sheryl Sandberg explained 60 per cent of video revenue was mobile-first, which it defines as clips of 15 seconds or less, or shot vertically.

Zuckerberg addressed the growing chorus of complaints about Facebook’s handling of hate speech, claiming it is the victim of “a coordinated effort to selectively use leaked documents to paint a false picture of our company”.

The CEO spoke just a few hours after former employee Frances Haugen testified to UK politicians regarding claims Facebook protects profits rather than restricting hateful or provocative posts.