Business

Facebook stock jumps after Q1 earnings beat


Facebook ( FB ) on Wednesday reported its Q1 2019 earnings with the company beating Wall Street's expectations.


Facebook's earnings follow an admission by the company earlier this month that it drastically understated the number of users whose passwords were stored in plain text on internal Facebook servers, a move that flies in the face of security best practices.


Prior to that, the company came under fire for its response to one of the shooters in a Christchurch, New Zealand mosque massacre live streaming the attack in March.


CEO Mark Zuckerberg has vowed to remake Facebook with security and privacy serving as the two cornerstones of the company.


The social network is also still grappling with issues relating to fake news, and the spread of disinformation on the platform.


Zuckerberg has said he will spend more than $3.8 billion to improve the safety and security of the site and combat issues like hate speech and disinformation.






Powered by Blogger.