sheryl sandberg

Embattled Facebook CEO Mark Zuckerberg said on Tuesday he has no plans to resign, sounding defiant after a rough year for the social platform. “That’s not the plan,” Zuckerberg told CNN Business when asked if he would consider stepping down as chairman. He also defended Facebook chief operating officer Sheryl Sandberg, who has drawn criticism over her handling of the social media giant’s recent crises. “Sheryl is a really important part of this company and is leading a lot of the efforts for a lot of…

Facebook must do more to address allegations of large-scale data mining, the EU has said, warning that the recent Cambridge Analytica scandal threatens democracy and has diminished trust in the social media giant. Facebook has come under fire after a co-founder of data analysis firm Cambridge Analytica told an undercover reporter that information from about 50 million Facebook users was taken without their consent and used for U.S. President Donald Trump’s 2016 election campaign. The issue has broad “consequences for…

Facebook reported a 79 percent jump in profit as revenues in the third quarter boomed from online advertising. The earnings reported on Wednesday revealed that the social media giant made a profit of $4.7 billion in the quarter that ended on September 30, compared with $2.6 billion in the same period a year earlier. Facebook shares have gained almost 60 percent in 2017. Facebook’s total advertising revenue rose 49 percent in the third quarter to $10.14 billion, about 88 percent of which came from mobile ads.…

German authorities said on Monday that they are investigating Facebook founder Mark Zuckerberg and three other executives over allegations they broke national hate speech laws by failing to clamp down on racist content.