San Francisco, April 27: Facebook has warned investors that more users' data scandals in the future may adversely affect the social networking giant's reputation and brand image.
In its quarterly report shared with the US Securities and Exchange Commission (SEC), without mentioning Cambridge Analytica, Facebook said that its ongoing investments in safety, security, and content review will identify additional instances of misuse of user data.
"We may also be notified of such incidents or activity via the media or other third parties," Facebook said on Thursday.
Appearing before the US Congress, Facebook CEO Mark Zuckerberg told the lawmakers that his own personal data was part of 87 million users' that was "improperly shared" with the British political consultancy firm.
The data was gathered via a quiz app, "thisisyourdigitallife," developed by Aleksandr Kogan, then a psychology researcher with University of Cambridge, and his company Global Science Research (GSR) which pulled out Facebook users' data in 2014-2015.
Facebook warned investors that there may be more such data breaches in the future.
"Such incidents and activities may include the use of user data in a manner inconsistent with our terms or policies, the existence of false or undesirable user accounts, election interference, improper ad purchases, activities that threaten people's safety on- or off-line, or instances of spamming, scraping, or spreading misinformation.
"The discovery of the foregoing may negatively affect user trust and engagement, harm our reputation and brands, and adversely affect our business and financial results," the company said its quarterly report.
"Any such discoveries may also subject us to additional litigation and regulatory inquiries, which could subject us to monetary penalties and damages, divert management's time and attention, and lead to enhanced regulatory oversight," it added.
Facebook on Wednesday beat Wall Street's estimates by raking in $11.97 billion in revenue for the first quarter of 2018.
The social media giant reported $4.98 billion in profit -- up from $4.26 billion in the last quarter.
"Despite facing important challenges, our community continues to grow. More than 2.2 billion people now use Facebook every month and more than 1.4 billion people use it daily," Zuckerberg said in a statement.
Facebook added 70 million monthly active users (MAUs) to reach 2.196 billion users globally -- at 3.14 per cent growth rate.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Bengaluru (PTI): Congress general secretary and Karnataka in-charge Randeep Singh Surjewala on Saturday launched a sharp attack on the BJP over alleged disparaging remarks made by former Mysuru-Kodagu MP Pratap Simha against Chief Minister Siddaramaiah during an assembly bypoll campaign in Bagalkote.
Simha made the remarks while campaigning for BJP candidate Veerabhadrayya Charantimath, triggering a political row ahead of the by-elections scheduled for April 9.
Congress has fielded Umesh Meti, son of former MLA late M Y Meti, whose death necessitated the bye-election.
"Pratap Simha's vile remarks about Chief Minister Siddaramaiah in Bagalkot have exposed the BJP's despicable politics once again," Surjewala said in a social media post.
Alleging a larger political design, he added, "It is increasingly evident that Pratap Simha’s outburst is driven by desperation," and accused the BJP of using such remarks to target backward classes, Scheduled Castes, and minorities.
The Rajya Sabha member further claimed that the incident reflects a pattern within the party. "This is not one man's madness—it is the BJP’s political culture," he said, adding that the remarks were aimed at "denigrating leaders from marginalised communities".
Referring to past incidents, Surjewala said, "CM Siddaramaiah and his deputy D K Shivakumar have received death threats in the past, including one from BJP leaders who warned that their bodies would be stuffed into a refrigerator."
The Congress leader also criticised the BJP’s bypoll campaign strategy, alleging "internal contradictions".
He pointed to the party’s use of expelled MLA Basanagouda Patil Yatnal in campaigning despite earlier disciplinary action against him, accusing the BJP of resorting to "abuses and indignities" against opposition leaders.
Surjewala demanded immediate action from the BJP leadership, including Prime Minister Narendra Modi, BJP national president Nitin Nabin, state president B Y Vijayendra, and Leader of Opposition R Ashoka.
He said they must tender a public apology to Kannadigas, particularly to OBCs, SCs, and minorities, over the remarks, and urged the party to expel Simha if it does not repudiate his statements.
Surjewala also called for legal action, demanding that an FIR be registered against Simha and that strict measures be taken.
Warning of "political consequences", he said the electorate in the bypoll-bound constituencies would respond decisively if the BJP failed to apologise, asserting that voters would "teach the BJP a befitting lesson" in the elections.
There has been no immediate reaction from the saffron party yet.
