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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

FACEBOOK

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Facebook's Zuckerberg promises a review of content policies after backlash

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06/05/2020 | 08:23pm EDT
Facebook CEO Zuckerberg testifies at House Financial Services Committee hearing on Capitol Hill in Washington

Facebook CEO Mark Zuckerberg on Friday said he would consider changes to the policy that led the company to leave up controversial posts by President Donald Trump during recent demonstrations protesting the death of an unarmed black man while in police custody, a partial concession to critics.

Zuckerberg did not promise specific policy changes in a Facebook post, days after staff members walked off the job, some claiming he kept finding new excuses not to challenge Trump.

"I know many of you think we should have labeled the President's posts in some way last week," Zuckerberg wrote, referring to his decision not to remove Trump's message containing the phrase "when the looting starts, the shooting starts."

"We're going to review our policies allowing discussion and threats of state use of force to see if there are any amendments we should adopt," he wrote. "We're going to review potential options for handling violating or partially-violating content aside from the binary leave-it-up or take-it-down decisions."

Zuckerberg said Facebook would be more transparent about its decision-making on whether to take down posts, review policies on posts that could cause voter suppression and would look to build software to advance racial justice, led by important lieutenants.

At a staff meeting earlier this week, employees questioned Zuckerberg's stance on Trump's post.

Zuckerberg, who holds a controlling stake in Facebook, has maintained that while he found Trump's comments "deeply offensive," they did not violate company policy against incitements to violence.

Facebook's policy is either to take down a post or leave it up, without any other options. Now, Zuckerberg said, other possibilities would be considered.

However, he added, "I worry that this approach has a risk of leading us to editorialize on content we don't like even if it doesn't violate our policies."

(Reporting by Ayanti Bera in Bengaluru and Peter Henderson in Oakland; Editing by Anil D'Silva and Leslie Adler)

Stocks mentioned in the article
ChangeLast1st jan.
FACEBOOK -1.74% 233.42 Delayed Quote.13.72%
MEMBERS CO., LTD. 3.30% 1440 End-of-day quote.-36.76%
THE NEW HOME COMPANY INC. 0.63% 3.2 Delayed Quote.-31.33%
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Financials (USD)
Sales 2020 77 000 M - -
Net income 2020 20 929 M - -
Net cash 2020 63 654 M - -
P/E ratio 2020 32,1x
Yield 2020 -
Capitalization 666 B 666 B -
EV / Sales 2019
EV / Sales 2020 7,82x
Nbr of Employees 48 268
Free-Float 83,8%
Chart FACEBOOK
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Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 50
Average target price 246,59 $
Last Close Price 233,42 $
Spread / Highest target 28,5%
Spread / Average Target 5,64%
Spread / Lowest Target -48,6%
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
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NEW WORK SE-3.42%1 782