As Facebook’s (FB) shares inched 0.4% up in pre-market trading on Monday, the embattled social media giant revealed it has already suspended about 200 apps that had access to vast amounts of user data. This was in response to the latest scandal that hit Mark Zuckerberg’s global media platform in connection with political consultancy Cambridge Analytica.
Facebook VP-Product Partnerships Ime Archibong said that access to these applications was revoked pending a detailed investigation any data misuse, according to a news report.
With CEO Mark Zuckerberg announcing a thorough investigation on March 21, the social media platform is said to have looked into more than thousand apps and revisited their access.
“There is a lot more work to be done to find all the apps that may have misused people’s Facebook data — and it will take time,” Archibong added.
The Cambridge Analytica scandal, that even invited bashing from celebrities, resulted in Facebook taking a massive plunge in market value. In the apparent fallout, Cambridge Analytica declared bankruptcy on May 2, announcing the closure of its UK and US offices. However, the social media giant — as it published its results in the last week of April — built back much of what it shed with a robust jump in quarterly profit and total users.
Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted
Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,
CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,