Facebook addresses whistleblower controversies, while reporting revenue miss — and doubles down on Reels and metaverse, including commerce.
Zuckerberg pointed out the complex nature of the situation and to the company’s investments on safety and security — on track for more than $5 billion in 2022, he noted — as well as formation of an oversight board and research efforts. He also framed the company as constantly working on transparency.
“So we are retooling our teams to make serving young adults their North Star, rather than optimizing for the larger number of older people.” Still, Facebook managed to hit $3.22 in earnings per share, beating the $3.19 EPS expected by analysts. And The Facebook executive also noted the return of its Buy Black Friday campaign to feature Black-owned businesses on Facebook andFurther out, Facebook sees its future hinging on video, particularly Instagram’s short video offering, Reels, and the advertising opportunities there, as well as its broader seller tools and work on metaverse applications.
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