Facebook vows to curb abuse amid soaring profits

Facebook expected to show 40 percent sales growth as stock reaches record high

Revenues of $10.3 billion increased 47% from a year ago and beat expectations of $9.84 billion.

Within the small print of the social network's impressive results, it has emerged that 10% of its 2.07bn monthly users are now thought to be duplicates of real users, or nearly double its previous estimate of 6% in the previous quarter. Instagram also hit a big milestone this quarter, now with 500 million daily actives, shared Mark Zuckerberg, the co-founder CEO of Facebook, during a conference call. "But none of that matters if our services are used in ways that don't bring people closer together". Changes are focused on preventing abuse and harmful content, removing fake news, hate speech and other "problematic content", he said.

"Protecting our community is more important than maximizing our profits", Zuckerberg said.

The world's number one social network along with Twitter and Google is under pressure from USA politicians over its role in the last presidential election.

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He said Facebook will double the security team to 20,000 in the next year (Facebook now has 23,165 employees) and introduce a tool that allows users to see a full archive of advertisements run by any political advertiser.

"I'm dead serious", Zuckerberg said.

The company said mobile ad revenue was 88% of all advertising revenue, up from 84% a year ago. These workers won't all be full-time at Facebookand will include contractors. The latest user numbers: Facebook daily active users were up 16% to 1.37bn, while monthly active users were up 16% to 2.07bn.

Unlike Twitter's anything-goes attitude, Facebook is famously strict about verifying the real-life identity of each of its users. The quarterly earnings report was released as Facebook and other internet titans testified this week before Congress about a Russian-led effort to spread misinformation and sow discord ahead of the 2016 US election. "We now discovered, in the last 48 hours, 120,000 Russian-based posts on Instagram", Stretch told the Senate Intelligence Committee hearing.

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