Facebook is jumping on an encouraging comment from Mark Zuckerberg


Shares of Facebook are moving higher Thursday, up 3% after CEO Mark Zuckerberg told reporters late Wednesday that the Cambridge Analytica scandal hasn’t impacted user behaviour on the social media platform.

“I don’t think there has been any meaningful impact we’ve observed,” Zuckerberg said on a conference call with reporters.

He also said that “this is a massive breach of trust,” adding:

“We didn’t focus enough on preventing abuse and thinking through how people could use these tools to do harm … That goes for fake news, foreign interference in elections, hate speech, in addition to developers and data privacy.”

Facebook is still down 12% on the year.

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