Facebook didn't read terms and conditions for app behind Cambridge Analytica

Facebook shakes up Washington lobbying team amid scandal

Facebook suddenly found itself under the spotlight when it was revealed that a data firm called Cambridge Analytica exploited the personal data of 50 million users, most of which were American voters, to manipulate voter sentiment in the run-up to the 2016 US presidential elections.

The parliamentary committee interviewing Schroepfer has also recently heard evidence from whistle-blower Christopher Wylie, former Cambridge Analytica executive Brittany Kaiser, and Aleksandr Kogan, the researcher who shared Facebook user data with Cambridge Analytica.

Facebook has seen its stock tumble about 9% since the start of the year amid a scandal over the misuse of personal data by political consultancy Cambridge Analytica.

The California-based social-media company released its quarterly results on Wednesday evening.

Facebook says it reversed its first ever decline in daily active users in the USA and Canada during the first three months of 2018, even with backlash from a massive data scandal. The mobile ad business grew on a push to add more video content.

Trump praises Kanye West for his 'great taste' on Fox & Friends
For example, fellow rappers Ice T and Smino issued tweets indicating they're clearly not backing West's political affiliation. Chance wrote on Twitter, " Black people don't have to be democrats " and said the next president is "gon be independent".

Facebook also increased its revenue on a year-by-year basis, from $8.03bn in the first quarter of 2017 to $11.96bn in the first quarter of 2018, a rise of 49 percent.

The company now has 1.45 billion daily active users worldwide.

The lawmaker asked why Facebook didn't spot Russia's use of the social network to target voters sooner. The all-important Average Revenue Per User, meanwhile, reached $5.53, up YoY but down from the last quarter.

It is spending to ensure users are not scared away by scandals.

The Department of Culture, Media and Sport Select Committee's chairman Damian Collins accused Facebook of having tools on its platform that "work for the advertiser more than they work for the consumer". The category includes efforts to root out fake accounts, scrub hate speech and take down violent videos.

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Facebook's staff headcount was 27,742 as of 31 March - a year-on-year increase of 48 per cent.

"All the data privacy issues, the congressional hearings, none of that will get as much scrutiny from investors as the bottom line", said Brian Wieser, an analyst at Pivotal Research.

In the United States, Facebook is facing the potential of massive fines from the Federal Trade Commission if the agency determines that the company misled users about its privacy protections.

Facebook has been surrounded in controversy over the way it treats users' data since reports of the scandal first emerged in March.

Net income for the first quarter came in at US$4.99 billion, or US$1.69 per share, compared with US$3.06 billion, or US$1.04 per share, a year earlier, Reuters reports.

London Stadium set to miss out on hosting Cricket World Cup matches
As a result, India's opening match against South Africa would be played on June 5, 15 days after the 2019 IPL final. Of the ten participating teams, four will march into the knockouts during the month and a half-long tournament.

Earnings per share reached $1.69, well above estimates of $1.35.

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