Facebook-Cambridge Analytica scandal

Facebook profit jumps despite data scandals

Today Programme

BBC Radio 4

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Facebook users have continued to rise despite a series of data privacy scandals including the Cambridge Analytica data harvesting and criticism over its attempt to stem toxic content.

The firm's total profit for 2018 was $22.1bn (£16.9bn), up 39% on 2017.

BBC North America technology correspondent Dave Lee says advertisers are "still keen to be on the platform, because users don't seem to be going anywhere".

"We're not seeing this exodus off Facebook that some have predicted, and indeed, one of the figures that Facebook put out there today is a new high that every month 2.7 billion people use a Facebook product of some kind, so simply an extraordinary amount."

Facebook: You are the product

BBC Radio 5 live

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Facebook appeared to report better than expected full-year results overnight but Russ Mould, investment director at AJ Bell, questions whether being a part of the social network company's business model is a good thing.

He tells Wake Up to Money: "When you don't have to pay for a product then the ultimate result is that you are the product and I think that so long as users know there is a trade off here - your privacy and your data for using a service that you appreciate - then that's absolutely fine.

"They've got 2.32 billion monthly average users. Either people are very comfortable with that or they are not aware of it. I think it is probably somewhere between the two."