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Facebook profits rise despite revelations form leaked papers

Facebook posted better than expected third-quarter profits as the company faces bad press over leaked internal documents.

The social media giant made $9 billion of profit in the three months to September, up from $7.8 billion last year.

However, it was hit by a new privacy update to Apple’s iOS 14 operating system, which made it harder for brands to target ads at specific users.




It comes amid fresh claims of unethical behaviour made by a former employee.

Frances Haugen has released a cache of internal documents to the public, alleging that Facebook put profit before user safety.

Multiple media reports say the documents show Facebook routinely failed to moderate content that promoted hate speech and sex trafficking outside of the US.



On Monday, Facebook chief executive Mark Zuckerburg told investors on a conference call: “What we are seeing is a coordinated effort to selectively use leaked documents to paint a false picture of our company.”

The world’s largest social media network is under scrutiny from global lawmakers and regulators, including from the Federal Trade Commission, which has filed an antitrust lawsuit alleging anticompetitive practices.

The whistleblower documents, which were first reported by the Wall Street Journal, have only intensified that pressure.

They include internal research about Instagram’s effects on teen mental health; whether Facebook’s platforms stoke division; and the social media giant’s handling of the 6 January Capitol riot.