Facebook records $9 billion profit in three months despite allegations and strong criticism

Facebook’s profit in three months to September recorded $9 billion (€7.7 billion) despite the emergence of controversies related to safety and privacy. The company is facing scrutiny over its policies in the US and many countries and whistle-blowers have come forward against the company alleging Facebook encourage extremism and act against communal safety.

But the company’s latest report shows that the profit is $9 billion, up from $7.8 billion of the same period last year.

The total revenue of Facebook has also increased in this year’s third quarter. They had a profit of $21.47 billion at the same time last year but it is increased to $29.01 billion this year which is a significant surge.

It is believed that Facebook continues to become a main player in social media market as the world still suffers impact of the pandemic. There are also reports that many people have recently joined Facebook for the first time in their life. The total number of users have now become 1.93 billion which is a 6% increase within a year.

The messaging platform WhatsApp and photo and video sharing app Instagram, both owned by Facebook have also seen an increase in new users. Both the platforms and other platforms managed by Facebook have an increase of 11% and now record 2.81 billion users worldwide.

A whistle-blower and former Facebook employee Frances Haugen had accused that Facebook did not take any proper action even after finding the platform is causing harm to underage users in an internal investigation. She had also presented strong evidences supporting the allegations earlier this month.

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