Connect with us

FACEBOOK

Facebook warns of ‘headwinds’ to its ad business from regulators and Apple

Published

on

Facebook posted its second quarter earnings Wednesday, beating expectations with $29 billion in revenue.

The world’s biggest social media company was expected to report $27.8 billion in revenue for the quarter, a 50 percent increase from the same period in 2020. Facebook reported earnings per share of $3.61, which also bested expectations. The company’s revenue was $18.6 billion in the same quarter of last year.

In the first financial period to really reflect a return to quasi-economic normalcy after a very online pandemic year, Facebook met user growth expectations. At the end of March, Facebook boasted 2.85 billion monthly active users across its network of apps. At the end of its second quarter, Facebook reported 2.9 billion monthly active users, roughly what was expected.

The company’s shares opened at $375 on Wednesday morning and were down to $360 in a dip following the earnings report.

In spite of a strong quarter, Facebook is warning of change ahead — namely impacts to its massive ad business, which generated $28.5 billion out of the company’s $29 billion this quarter. The company specifically named privacy-focused updates to Apple’s mobile operating system as a threat to its business.

“We continue to expect increased ad targeting headwinds in 2021 from regulatory and platform changes, notably the recent iOS updates, which we expect to have a greater impact in the third quarter compared to the second quarter,” the company stated its investor report outlook.

On the company’s investor call, Facebook CEO Mark Zuckerberg pointed to Facebook’s plans to reduce its reliance on ad revenue, noting the company’s expanded efforts to attract and support content creators and its e-commerce plans in particular. “We want our platforms to be the best place for creators to make a living,” Zuckerberg said, adding that the company plans to monetize creator tools starting in 2023.

Zuckerberg also emphasized Facebook’s grand aspirations for social experiences in VR. “Virtual reality will be a social platform, which is why we’re so focused on building it,” Zuckerberg said.

No matter what Facebook planned to report Wednesday, the company is a financial beast. Bad press and user mistrust in the West haven’t done much to hurt its bottom line and the company’s ad business is looking as dominant as ever. Short of meaningful antitrust reform in the U.S. or a surging competitor, there’s little to stand in Facebook’s way. The former might still be a long shot given partisan gridlock in Congress, even with the White House involved, but Facebook is finally facing a threat from the latter.

For years, it’s been difficult to imagine a social media platform emerging as a proper rival to the company, given Facebook’s market dominance and nasty habit of acquiring competitors or brazenly copying their innovations, but it’s clear that TikTok is turning into just that. YouTube is huge, but the platforms matured in parallel and co-exist, offering complementary experiences.

TikTok hit 700 million monthly active users in July 2020 and surpassed three billions global downloads earlier this month, becoming the only non-Facebook owned app to do so, according to data from Sensor Tower. If the famously addictive short form video app can successfully siphon off some of the long hours that young users spend on Instagram and Facebook’s other platforms and make itself a cozy home for brands in the process, the big blue giant out of Menlo Park might finally have something to lose sleep over.

TechCrunch

FACEBOOK

Wanda Sykes On Why Meta Reinstated Trump

Published

on

Wanda Sykes On Why Meta Reinstated Trump

Facebook and Instagram’s parent company Meta announced this week that twice-impeached former president Donald Trump will be reinstated on both platforms, after a two-year suspension.

“The Daily Show” guest host Wanda Sykes was not at all surprised, saying that it’s just a money-grabbing stunt.

In their announcement on Wednesday, Meta stated that “the public should be able to hear what their politicians are saying — the good, the bad and the ugly — so that they can make informed choices at the ballot box.” And to that, Wanda Sykes said “Phooey!”

“Look, we all know Facebook is losing a ton of money and they want that Trump attention back,” Sykes mocked. “They need a hit! Trump is their ‘White Lotus.’”

She added that Trump is “the Jennifer Coolidge of the internet,” breaking out her own impression of the award-winning actress. That said, Sykes does think there needs to be some intense moderation of Trump’s accounts. But she had an idea for that, too.

“I think maybe for the first week, they should just allow him to only post cat photos. You know, let’s see how it goes,” Sykes joked. “If you see a bunch of cats storming the Capitol? Although adorable, shut it down.”

You can watch the full segment from “The Daily Show” in the video above.

Source link

Continue Reading

FACEBOOK

Is This the Real Reason Google, Amazon, Facebook and Microsoft Are Having Layoffs?

Published

on

Is This the Real Reason Google, Amazon, Facebook and Microsoft Are Having Layoffs?

Are 51,000 people losing their jobs because their employers want to shift the balance of power? Is the current wave of big-tech layoffs really intended as a way of weakening tech employees’ confidence and gaining a stronger negotiating position for their employers? That’s what several tech industry …

Source link

Continue Reading

FACEBOOK

Fake Facebook profile leaves Nelson auctioneer stressed and worried

Published

on

Fake Facebook profile leaves Nelson auctioneer stressed and worried

Lipscombe Auction House owner Warwick Savage with a fake Facebook account using his name he is trying to get taken down.

Martin De Ruyter/Stuff

Lipscombe Auction House owner Warwick Savage with a fake Facebook account using his name he is trying to get taken down.

Auctioneer Warwick Savage didn’t have a personal Facebook profile.

But someone pretending to be him set one up, and that person, or persons stole his identity and amassed 1500 friend by Friday – the vast majority of whom were none the wiser the man on the screen was not who they thought he was.

The profile first came to the attention of the Nelson auctioneer late last week, when a friend of his stepdaughter’s commented that she had accepted Savage’s friend request: “and she said ‘he doesn’t have a Facebook page. He doesn’t have a Facebook profile’. So all of a sudden it came to the forefront.”

What was bizarre about the fake profile is how sophisticated it was: few of Savage’s close friends twigged when sent a friend request.

READ MORE:
* Auction house owner defends decision to sell Nazi memorabilia
* Nazi flags and badges sold at Nelson auction despite protests
* Nazi memorabilia auction plan in Nelson sparks concern

The photos had been taken off the website of his business, Lipscombe Auction House, and the posts, promoting auctions, appeared legitimate. Lipscombe Auction House has a genuine Facebook page for the business and the fake and genuine pages looked similar.

On Friday after queries from Stuff meta removed the Facebook page for “for violating our policies”.

A spokesperson said it was “committed to safeguarding the integrity of our services, and worked hard to protect our community from fake accounts and other inauthentic behaviour.”

It continued to invest in AI to improve its enforcement and strengthen its review systems it said.

Someone has set up a fake account of auctioneer Warwick Savage and despite people contacting Facebook and telling them it was fake the social media company won’t take it down.

SUPPLIED/Nelson Mail

Someone has set up a fake account of auctioneer Warwick Savage and despite people contacting Facebook and telling them it was fake the social media company won’t take it down.

Savage was happy the page had finally been removed but frustrated it had taken so long for it to have occurred.

Savage had reported the profile to the police, who referred him to Netsafe. Multiple friends also wrote to Facebook asking for the page to be removed, only to receive the message that “ultimately, we decided not to take the profile down”.

“We take action on profiles that pose a danger to other people or that are harmful to the community,” the Facebook Support message read.

Savage said there should be more accountability from social media.

The profile appeared to have been uploaded on November 26, 2022, but the majority of the account activity had been this year, Savage said.

Several people who accepted his friend requests were Nelson City councillors, and other well known people in Nelson.

Someone has set up a fake account of Lipscombe Auction house owner Warwick Savage on facebook that now has over 1100 friends using information from his legitimate website.

SUPPLIED/Nelson Mail

Someone has set up a fake account of Lipscombe Auction house owner Warwick Savage on facebook that now has over 1100 friends using information from his legitimate website.

Before the media got involved Savage said there hadn’t appeared to be much interest from Facebook in doing anything about it.

“And I think it would be a huge worry for anybody. Because basically, they’ve stolen my identity.”

Savage said he was “obviously” concerned about reputational damage. But he was also concerned about having his business targeted.

“It all looks very harmless at the moment, but why would a person bother creating this to not have an end objective? Are messages going out to people there who are friends that aren’t nice messages?”

The situation has left him feeling “stressed”, he said, and particularly worried about the possibility of the person using his name posting something nasty.

“I don’t want to be going around trying to defend myself and Lipscombe’s to 1000 people,” he said.

Source link

Continue Reading

Trending

en_USEnglish