The problems arising from the ads bought by Russia on Facebook has not slowed them down but it might eventually.
It was revealed by Facebook on Wednesday that their sales increased in the third quarter to a cumulative of $10 billion. This has been attributed to the ability of its advertising products.
Nonetheless, Mark Zuckerberg, the CEO of the online platform has opined that the company more face depreciation in profits as more stringent security is applied.
The reports of Facebook’s earnings were part of the items released as an executive of Facebook was testifying in the last three hearings this week before the Congress. The testimonies were made concerning how Russian actors employed the platform to manipulate the outcome of the presidential elections held in 2016.
Also at the hearings, other online social platforms like Twitter and Google alongside Facebook were questioned on if they could in any way stop bad actors from using the ads and regular posts on their platforms as a tool for their schemes.
Security expenses expected to Increase
Facebook has been said to be putting some resources into its engineering groups that are focussed with artificial intelligence and security. This it is done beyond the headcount Zuckerberg stated.
It is the overwhelming task of moderating billions that have caused the drastic increase in efforts in security. There are about 2 billion users who engage the platform on a monthly basis and over 1.2 billion users who make use of the site every day, this was reported in the earnings report.
An all-time high was recorded by Facebook on Wednesday. Plans of ramping up security investments as well as virtual reality and video content were revealed after shares reduced after hours of trading.
In 2018, a minimum of 60% rise from its 2017 total expenses cumulative is estimated by Facebook.