Facebook Has Strong Q3, Settles Cambridge Analytica Suit

Facebook chief executive Mark Zuckerberg predicted a “tough year” ahead with the lead-up to the 2020 presidential elections, but the company showed strong Q3 earnings. FactSet said Facebook enjoyed $17.7 billion in total sales and $6.1 billion profit, exceeding Wall Street expectations. In after hours trading, shares rose 5 percent, having already risen more than 43 percent to date. Facebook also agreed to pay U.K.’s privacy regulator a £500,000 ($643,000) fine for its role in the Cambridge Analytica scandal. Continue reading Facebook Has Strong Q3, Settles Cambridge Analytica Suit

Microtargeting Is Under the Microscope for Weaponizing Ads

The U.K.’s Institute of Practitioners in Advertising called for a moratorium on political microtargeting, deeming it “weaponized ad technology.” That’s the practice whereby brands and advertisers can select who gets a Facebook ad based on specific data including location, interests and even political opinions. Now, in the U.S. and Europe, advertising executives, researchers and government officials are scrutinizing the practice, saying it can be used to manipulate voters and polarize the electorate. Continue reading Microtargeting Is Under the Microscope for Weaponizing Ads

Facebook Faces First Fine for Cambridge Analytica Scandal

The British Information Commissioner’s Office (ICO) levied the toughest fine possible — 500,000 pounds (or about $660,000) — against Facebook for allowing Cambridge Analytica to harvest the personal data of millions of people without their consent. The ICO, the agency that enforces the United Kingdom’s data protection laws, began investigating Facebook’s possible misuse of personal data in May 2017, but revelations of the Cambridge Analytica incident spurred it to complete its examination. Continue reading Facebook Faces First Fine for Cambridge Analytica Scandal