Facebook vows to curb abuse amid soaring profits

Facebook expected to show 40 percent sales growth as stock reaches record high

However, the social networking site stated that would not deter the company from taking steps to curb abuse on the platform.

"As another arm of Facebook, Instagram has also emerged as an advertising powerhouse creating significant revenue for Facebook, as we are seeing more and more marketers shifting their focus towards Instagram for both their organic and paid activity".

But CEO Mark Zuckerberg sounded a warning note, after a hard few weeks of debate around the role of rogue Russian actors trying to influence the last U.S. presidential election through Facebook ads and posts.

Zuckerberg said that the community continues to grow, now with almost 2.1 billion people using Facebook every month, and almost 1.4 billion people using it daily. Further, Zuckerberg said that they are very serious about preventing abuse on Facebook Inc (FB), and that is why the company is investing so much in security that "it will impact our profitability".

"Protecting our community is more important than maximizing our profits", Zuckerberg said in a statement. He stated he desired investors to hear directly from him that this work would significantly damage profitability.

The company plans to hire more people to police dubious content, doubling the number of such staff to 20,000. "What rules does it follow, and do those rules need to be rewritten for a new model that doesn't fit historical ones?"

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Having been accused of initially dismissing the significance of Russian activity, then slow-walking the investigation into it and repeatedly understating its effects, Zuckerberg used the opening minutes of Facebook's third-quarter earnings call to signal a new sense of objective. "We're bringing the same intensity to these security issues that we've brought to any adversary or challenge that we've faced", Zuckerberg said.

But the stock fell in after-hours trading after Zuckerberg's warning.

Revenues of $10.3 billion increased 47% from a year ago and beat expectations of $9.84 billion. Facebook will also be using Artificial intelligence and other technological solutions to help it combat what Mark Zuckerberg calls "bad content and bad actors". Lawmakers criticized Facebook for not doing more to stop Russians from interfering in American political discourse.

Daniel Sparks owns shares of Facebook.

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