Facebook’s annual report reveals that the social media platform is still making billions of dollars from user data.
Facebook is still making billions of dollars from user data, despite the scandal surrounding the Cambridge Analytica scandal. The social media giant has been facing a lot of scrutiny over its handling of user data in recent years, with many calling for more transparency and accountability. In order to address these concerns, Facebook has published its first ever annual report.
The company’s first annual report was released on October 25th, just two days before Facebook CEO Mark Zuckerberg was scheduled to testify before Congress about the company’s handling of user data. The report revealed that Facebook made $15 billion in revenue from selling user data to third parties in 2018. Although this number is a significant drop from 2017’s $40 billion, it’s still a huge sum of money.
The $15 billion figure is based on revenue from advertising and other services provided by third parties who receive information about users through Facebook. This number does not include revenue generated by ads on Instagram or WhatsApp, which are both owned by Facebook but operate independently.
