What massive privacy scandal and #deletefacebook crisis? According to stats released this morning, Facebook is booming. Just one problem…
So what if nobody really cares about the whole Cambridge Analytica scandal? Sure, high-prile personalities like Elon Musk and Will Ferrell deleted their priles. But what about average John and Jane Does?
Maybe they don’t really care.
According to data just released by the social networking giant, user growth has actually been surging. In fact, during the first three months 2018, Facebook added an impressive 48 million daily active users (DAUs). Which is actually larger than the population Argentina (and a lot other countries).
The company reported a total 1.449 billion DAUs by March 31st, 2018.
Even more surprising is that Facebook’s rate–growth actually improved during the period.
DAUs boosted 3.42% during the first quarter, which is more than the 2.18% rate reported during last quarter 2017 (October through December).
Facebook also made a ton cash. During the three-month period, the social networking behemoth posted revenues $11.97 billion. That is an astounding jump 49 percent, with net income crossing the $5 billion-mark.
+ And Now, Here’s Mark Zuckerberg Flat-Out Lying About Selling User Data In 2009
The positive report follows a non-stop torrent negative reports related to a gaping security breach. The latest estimate is that Facebook violated the privacy agreements more than 87 million users. But maybe they did that because they didn’t think they’d get caught — and even if they did, it wouldn’t damage the company long-term.
Accordingly, Facebook chief Mark Zuckerberg reiterated his company’s commitment to cleaning up user privacy. But you got the sense that Zuckerberg thinks this will all blow over. “We’re going through every part our relationship with people and making sure we’re taking a broad enough view our responsibility, not just to build tools, but to make sure those tools are used for good,” CEO Mark Zuckerberg said. “This means continuing to invest heavily in safety, security and privacy.”
The Cambridge Analytica meltdown erased $80 billion Facebook’s stock value. But a lot that is coming back — and investors are apparently eyeing a good buy. Just recently, Jim Cramer advised ‘buying low’.
One question is whether the first quarter isn’t a proper indicator damage. As in, what’s happening right now.
After all, the entire Cambridge Analytica breach happened mid-March, leaving about two weeks for #deletefacebook to take hold. Indeed, user growth in both the U.S. and Canada was sluggish during the quarter, inching up just 1 percent. Europe’s growth was steady but not groundbreaking, with growth under 2%.
That leaves the Asia Pacific and the ‘Rest World’ (ROW) as the biggest growth areas during the period. In fact, the non-Western regions carried the quarter, suggesting that cultural differences and lower levels bad publicity in those regions dampened Cambridge Analytica’s impact.
Look a little deeper, and perhaps Facebook’s biggest problems are already visible.