We’ll Fix Ad Abuse At Profits’ Expense, Facebook CEO Vows

Facebook CEO Mark Zuckerberg has pledged to fix the problems with its ad platform even if he must sacrifice some of the company’s profit to do so.

Zuckerberg, in a statement regarding the social networking firm’s booming third quarter, said addressing the issue that led to Russian-backed groups using the platform to spread misinformation during the last presidential election is of utmost importance.

“Our community continues to grow and our business is doing well,” Zuckerberg said. “But none of that matters if our services are used in ways that don’t bring people closer together. We’re serious about preventing abuse on our platforms. We’re investing so much in security that it will impact our profitability. Protecting our community is more important than maximizing our profits.”

He elaborated more on the issue during a call with investors Wednesday afternoon, saying he is “dead serious” about shoring up Facebook’s defenses against further abuse.

“I’ve expressed how upset I am that the Russians used our tools to sow mistrust and undermine our values,” he said. “What they did is wrong and we’re not going to stand for it.

Facebook recorded $10.3 billion in revenue in its third-quarter with more than $10.1 billion of the funds coming came advertising. Roughly 88 percent of its advertising dollars are from mobile ads, up from approximately 84 percent in 2016’s third-quarter.

Daily active users currently sit at 1.37 billion and monthly active users at 2.07 billion, an increase of 16 percent year-over-year for both figures.

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