Facebook Announces Over $9bn in Quarterly Profit Amid Criticism

Facebook CEO Mark Zuckerberg SAN FRANCISCO: Social media giant Facebook Monday announced over $9 billion in quarterly profits, hours after a US news collective published a deluge of withering reports arguing the company prioritizes its growth over people´s safety. The social media giant has been battling a fresh crisis since former employee Frances Haugen leaked reams of internal studies showing executives knew of their sites´ potential for harm, prompting a renewed US push for regulation. Facebook released results showing its profit in the recently-ended quarter grew to $9.2 billion -- a 17% increase -- and its ranks of users increased to 2.91 billion. Facebook executives said on an earnings call that the tech titan would have brought in even more money if not for Apple updating its iPhone operating system to thwart advertisers tracking app users for ad targeting without permission. "Ove...