#Deletefacebook Didn't Happen: Facebook Grows Users in Q1, Beats Earnings Estimates

Mark Zuckerberg faces Wall Street for first time since data scandal

Zach Gibson Getty Images Facebook CEO Mark Zuckerberg testifies before a combined Senate Judiciary and Commerce committee

Facebook is expected to report a daily active user count of approximately 1.45 billion, an increase from their fourth quarter when the company reported 1.4 billion daily active users.

Several analysts asked Facebook executives on the call whether the European Union's tougher data privacy rules would impact sales. The analyst would not be surprised to see the bottom end of the guide boost, an encouraging sign that would indicate to the analyst the company takes its users' privacy quite "seriously".

Facebook had admitted in its earlier response to the government that data of around 5.62 lakh people in India were "potentially affected" by the incident.

Facebook's Cambridge Analytica nightmare - in which a United Kingdom data firm allegedly leaked ill-gotten info about millions of Facebook users - may have rocked the company, but you wouldn't know it by looking at the company's bottom line.

The company also said it has approved a plan to boost its share buyback program by $9 billion.

So much for the campaign to Delete Facebook.

Facebook Inc FB.O shares rose on Wednesday after the social network reported revenue that beat Wall Street estimates, showing no initial impact on its lucrative ad business from a scandal over the handling of personal data.

Last quarter, Zuckerberg touted surprising new metrics that people were spending fewer hours per day on Facebook - a outcome of the company's new push to emphasize the quality of interactions on its platform over the popularity of content.

Investors were looking for any indication that Facebook's wave of recent scandals had led people to flee the service. Facebook will still maintain "a very strong position" relative to the rest of the ad industry she said.

A Facebook spokesperson said the company believes it is important that its chief privacy officer spend more time focusing on privacy as attention on the topic increases. "The company still offers one of the most powerful platforms for brands to reach engaged consumers at scale".

Analysts are expecting to see a 42 percent increase in sales, to $11.4 billion, but investors are anxious about future income after Facebook COO Sheryl Sandberg revealed that "a few" advertisers had stopped serving ads on Facebook's platform following the recent user data scandal. "Advertising-supported businesses like Facebook equalise access and improve opportunity".

Sandberg rejected any suggestion that Facebook should diversify its business model away from micro-targeted advertising.

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