Facebook reported near-record revenue and quarterly profits of $9.2B Monday as the social media company faced scrutiny over how it polices its platform for misinformation and other banned material.
The company's latest quarterly earnings report came on the day that it faced a deluge of news stories based on thousands of internal documents obtained by news organizations, including NBC News. The documents, originating with former Facebook product manager and whistleblower Frances Haugen, provided the deepest look yet at the internal workings of the company and revealedFacebook CEO Mark Zuckerberg addressed the scrutiny on a conference call with Wall Street analysts.
The company's financial numbers, though, haven't reflected the media investigations. And Zuckerberg announced a few tweaks to Facebook's strategy, including more spending on virtual and augmented reality and a greater focus on attracting young adult users. "This shift will take years, not months," Zuckerberg said on the conference call. Facebook already has a TikTokThe company's revenue and profits have continued to rise despite numerous challenges.
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