Toil and trouble

31 October 2018 By Jennifer Saba Follow @jennifersaba

The Facebook boss candidly addressed the social network’s problems – encouraging for a company with grave transparency issues. Zuckerberg still lacks answers on how to squeeze revenue from things like private messaging and video ads, but at least the bogeyman is in plain sight.

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Facebook Chief Executive Mark Zuckerberg told investors during a third-quarter earnings call on Oct. 30 that the social network will focus on messaging, video advertising and disappearing stories. He warned that “it will take some time for our business to catch up to our community growth.”

Zuckerberg also stated that smartphone maker Apple has an advantage in offering messaging services to customers, because it bundles its own iMessage product with the iPhone.

Facebook reported third-quarter earnings of $5.1 billion, compared with $4.7 billion in the same period last year. Revenue increased 33 percent while costs grew by 53 percent.

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