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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

FACEBOOK

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Facebook paid contractors to transcribe users' audio: Bloomberg

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08/13/2019 | 03:55pm EDT

(Reuters) - Facebook Inc has been paying outside contractors to transcribe audio clips from users of its services, Bloomberg reported on Tuesday, citing people familiar with the matter.

The company confirmed that it had been transcribing users' audio and said it was no longer doing so, Bloomberg reported. (https://bloom.bg/2KxlnYc)

Facebook did not immediately respond to a Reuters request for comment.

Bloomberg, citing the company, reported that the users who were affected chose the option in the Messenger app to have their voice chats transcribed. The contractors were checking whether Facebook's artificial intelligence correctly interpreted the messages.

Shares of Facebook pared gains after the report and were up 1.66% at $188.44.

The social media company has been facing broad criticism from lawmakers and regulators over its privacy practices.

Last week, a federal appeals court rejected Facebook's effort to undo a class action lawsuit claiming that it illegally collected and stored biometric data for millions of users without their consent. The company also agreed to pay a record $5 billion fine last month to settle a U.S. Federal Trade Commission data privacy probe.

Earlier this month, Apple Inc and Alphabet Inc Google globally suspended reviewing recordings from users interacting with their voice assistants, as concerns over data privacy mount.

(Reporting by Nivedita Balu and Sayanti Chakraborty in Bengaluru; Editing by Maju Samuel)

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET -0.01% 1191.52 Delayed Quote.14.03%
APPLE -0.08% 212.46 Delayed Quote.34.80%
FACEBOOK -0.82% 182.04 Delayed Quote.40.02%
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Financials (USD)
Sales 2019 70 258 M
EBIT 2019 23 947 M
Net income 2019 17 666 M
Finance 2019 51 849 M
Yield 2019 -
P/E ratio 2019 29,9x
P/E ratio 2020 19,4x
EV / Sales2019 6,72x
EV / Sales2020 5,34x
Capitalization 524 B
Chart FACEBOOK
Duration : Period :
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Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 50
Average target price 230,84  $
Last Close Price 183,55  $
Spread / Highest target 44,4%
Spread / Average Target 25,8%
Spread / Lowest Target -34,6%
EPS Revisions
Managers
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
Sector and Competitors
1st jan.Capitalization (M$)
FACEBOOK40.02%523 659
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SINA CORP-21.57%2 926
XING SE0.00%1 734