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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

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Facebook : mulls ban on political ads ahead of U.S. elections - Bloomberg News

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07/10/2020 | 04:08pm EDT

(Adds context on Facebook decisions on Trump posts, ad boycott)

July 10 (Reuters) - Facebook Inc is considering imposing a ban on political ads on its social network in the days leading up to the Nov. 3 elections in the United States, Bloomberg News reported on Friday, citing people familiar with the company's thinking.

The potential ban is only being discussed and has not been finalized, the report added. (https://bloom.bg/2ZY7F6X)

A Facebook spokesman said the company had no comment on the report.

The social media company has been under fire for its policy of exempting politicians' ads and speech from fact-checking. Last year, smaller rival Twitter Inc banned political ads, but Facebook has maintained that it does not want to stifle political speech.

Republican President Donald Trump's campaign and Democratic presidential candidate Joe Biden's campaigns did not immediately respond to a request for comment.

Last month Biden's campaign published an open letter to Facebook Chief Executive Mark Zuckerberg calling for the company to fact-check politicians' ads in the two weeks ahead of the election.

In a Twitter post on Friday, Biden's digital director Rob Flaherty pointed to the issue of misinformation in unpaid content on the site.

"Requisite reminder that Facebook's problems are 80% about unpaid content and so anything they do about paid content is an attempt to distract you," he tweeted.

Facebook has drawn heat from employees and lawmakers in recent weeks over its decisions not to act on inflammatory posts by the president.

More than 900 advertisers have signed on to an ad boycott on Facebook, organized by civil rights groups to pressure the world's largest social media network to take concrete steps to block hate speech and misinformation, in the wake of the death of George Floyd in police custody. (Reporting by Neha Malara and Elizabeth Culliford; Editing by Vinay Dwivedi, Dan Grebler and Daniel Wallis)

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Financials (USD)
Sales 2020 80 148 M - -
Net income 2020 22 920 M - -
Net cash 2020 62 407 M - -
P/E ratio 2020 32,0x
Yield 2020 -
Capitalization 723 B 723 B -
EV / Sales 2020 8,24x
EV / Sales 2021 6,47x
Nbr of Employees 52 534
Free-Float 83,8%
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Mean consensus BUY
Number of Analysts 48
Average target price 276,33 $
Last Close Price 253,67 $
Spread / Highest target 28,1%
Spread / Average Target 8,93%
Spread / Lowest Target -52,7%
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NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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