And, just in case anyone was concerned advertisers might be leaving Facebook over ongoing concerns, COO Sheryl Sandberg confirmed that the company hadn't observed a "meaningful trend" of advertisers departing. Zuckerberg appeared to back away from the idea after previous statements that many read as potentially supportive.
Amid what is arguably the biggest crisis in its 14-year history, Facebook today (April 25) launched its largest-ever brand advertising campaign in the USA, the same day it posted nearly $12bn in revenue for the first quarter. In total, Facebook added 48 million daily users globally during the quarter.
The government today shot-off notices for the second time to both Cambridge Analytica and Facebook, seeking more details on the data breach issue, sources said. It was part of a public relations campaign that Facebook has embarked following the scandal, where the company wants to reassure users about comfortably and safely using the popular social network. The company has 10 million small businesses with Facebook pages in the USA and 6 million advertisers, majority small companies; CEO Mark Zuckerberg was quoted earlier this month as saying he doesn't believe the company has seen a meaningful impact on ad spending from the scandal.
Facebook is shuffling senior leadership in its Washington, DC office in the wake of the Cambridge Analytica data scandal that has drawn increased scrutiny from lawmakers and regulators.
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"While I considered deleting Facebook, I understand the importance and reach Facebook has to keep an open channel of communication with our customers", says Mike Seper, owner of Eco Adventure Ziplines.
Facebook has apologized to those whose data was misused, and says it's restricting app developers' access to people's information.
Facebook subsequently revealed that 87 million users' information was shared with Cambridge Analytica.
The bigger concern may be negative impact from new privacy regulation, starting with a sweeping new data protection law set to take effect in Europe next month. "In light of consumer outrage after Cambridge Analytica, there is massive pressure to show that their advertising model hasn't been significantly impacted by the black cloud of the last few months". In addition, Goldman tried to suggest that if anything Facebook was a service and advertisers the product as there were the ones spending money.