United Kingdom lawmakers demand Zuckerberg to appear before them

Facebook shares have surged after the company posted impressive financial results for the first quarter despite facing widespread criticism for its role in the Cambridge Analytica scandal.

As many as one million British Facebook users may have had their data harvested because they were connected to U.S. users targeted in data passed to Cambridge Analytica, Schroepfer said.

Mr Schroepfer said Facebook had legal certification that the data had been deleted in 2015, but admitted he was disappointed by the way Facebook had handled disinformation campaigns on the platform, notably from Russian Federation.

Speaking on the company's first quarter earnings call, CEO Mark Zuckerberg said that while passive video consumption is down on the site - a result of recent tweaks to how the Facebook prioritises content - it is stepping up efforts around interactivity.

"We did not read all of the terms and conditions", Schroepfer admitted.

Facebook had in March faced a controversy over yielding millions of users' data to Cambridge Analytica which reportedly manipulated it during U.S President Donald Trump's electioneering in 2016.

It said it took "any report of suspicious activity that could threaten people's privacy" very seriously.

A court in Bhopal has issued summons to Facebook and its CEO Mark Zuckerberg on a petition filed by a city-based startup which accused the social networking giant of taking down the page, and thereby, hampering and interfering in its business.

"Although management once again highlighted its commitment to platform safety for its users and while the CFO continued to highlight decelerating growth as we progress through 2018 (on a constant currency basis) given its tough comps, we thought the call went better than expected", the investment bank said in a note. And there are plenty more ways for Facebook's advertising business to expand further, such as through the photo-sharing app Instagram.

Facebook said 1,040 people in the United Kingdom had installed Kogan's app, which allowed it access to around 1 million friends' personal information.

"We didn't take a broad enough view of what our responsibility was and that was a huge mistake".

Devitt said in an interview with Cheddar that he doesn't see this being a major burden for Facebook, adding that the new rules may only have a minor effect on the number of users overseas.

Facebook reached the 87 million figure by adding up all the unique people that those 270 000 users were friends with at the time they gave the app permission. "We're proud of the ads model we built", Chief Operating Officer Sheryl Sandberg said.

Mr Schroepfer said he respectfully disagreed with the MP's assessment.

Facebook Chief Technology Officer Mike Schroepfer said the mistakes made by the firm hurt, and that it was cooperating with investigations by British regulators. The U.S. exec also managed to irritate the United Kingdom legislators when asked about the impact of political advertising.

Labour's Paul Farrelly said that journalist Matt Taibbi's description of Goldman Sachs as a "great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money" could easily apply to Facebook.

  • Eleanor Harrison