Facebook pledges to sacrifice profits for better security

Facebook is going through a bit of a rough spot, as it attempts to mend its reputation following allegations that it was used by Russians to influence last year’s elections. Still, the company is making money hand over fist, as it reported yet another blockbuster quarter with over $10.3 billion in total revenue. That’s a 47 percent increase from this time last year and about a 10 percent growth from last quarter. Yet, CEO Mark Zuckerberg stated that profitability would soon take a back seat to better security.

“Our community continues to grow and our business is doing well,” he said. “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 maximizing our profits.”

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

In the call, Zuckerberg elaborated on his concerns over Russian interference. “I’ve expressed how upset I am that the Russians used our tools to sow mistrust and undermine our values. What they did is wrong and we’re not going to stand for it.” As a result, Facebook has invested aggressively in boosting its security efforts. It’s hired more people to better enforce community standards and it’s also looking to improve its artificial intelligence to be better at spotting security holes. Zuckerberg also said it was working with other tech companies to respond to national security threats.

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Source: Facebook