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COMING UP:Share Opener Variant 3

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Transcript

00:00:00
>> Facebook out with another stellar earnings report in the first quarter despite facing its biggest challenge ever from a major data breach scandal. On Wednesday the social media giant beat estimates with $11.8 billion in revenue up 50% from the same period last year. That helped the shares jump about 9% around midday Thursday.
00:00:23
Facebook and it's CEO Mark Zuckerberg had been under the gun since mid March. When political firm Cambridge Analytica was found to have used data from millions of users to help President Donald Trump's 2016 presidential campaign. Reuters correspondent David Ingram.>> It's possible that we're gonna see a bigger hit to Facebook from this privacy scandal in the second quarter, the quarter that's happening now.
00:00:46
And that we'll see results from in three months. So the Cambridge Analytica scandal came pretty late in the first quarter for it to have a big impact on the results from that quarter.>> Zuckerberg in the earning statement said quote despite facing important challenges, our community and business are off to a strong start in 2018.
00:01:05
We are taking a broader view of our responsibility in investing to make sure our services are used for good. But there are also some signs that Facebook could face some challenges on costs going forward as it beefs up its staff to help police the site.>> The employee headcount rose 48% year over year, which is a huge number and when you hire someone that expend usually continues for some period of time.
00:01:31
And so there's some built-in growth in Facebook's cost here that is going to be a question for a lot of analysts.>> As of the end of March, Facebook had nearly 28,000 employees, monthly active users, 2.2 billion.