Facebook Promises to Sacrifice Profits for Better Security

Facebook, is going through a bit of a rocky patch, as it tries to restore its reputation after allegations that the social media network was used by Russians to influence elections that was held last year. The company is still making money hand over fist, as it reported yet another blockbuster quarter with total revenue amounting to more than $10.3 billion. That is a 47 percent rise from this time in 2016 and around a 10 percent growth from the past quarter. However, Mark Zuckerberg, Facebook’s CEO, stated that profitability would soon take a back seat to better security.

“Our community continues to grow, and our business is doing well,” said Zuckerberg. “But none of that matters if our services are used in ways that don’t bring people closer together. We’re serious about preventing abuse on our platforms. We’re investing so much in security that it will impact our profitability,” he continued. “Protecting our community is more important than maximising our profits.”

Of the $10.3 billion in revenue, more $10.1 billion came from advertising. And of that amount, around 88 percent came from mobile, which is 4 percent more than what was reported during the last quarter. The user numbers of Facebook continue to grow as well. Currently, the social network has 2.07 billion monthly users and 1.37 billion daily users, which are both a 16 percent increase year-over-year.