Facebook, Google's huge profits buoy Wall St, bring backlash in Washington
Policymakers worry that Silicon Valley has become too dominant, too invasive and too out-of-control
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Washington
HOURS after Facebook appeared before a Senate panel on Wednesday to account for the company's role in the spread of Russian misinformation on its platform, chief executive Mark Zuckerberg got on a conference call with investors to celebrate a milestone: for the first time in its history, Facebook had earned more than US$10 billion in quarterly revenue.
Mr Zuckerberg followed up with still more staggering numbers: his company had made US$4.7 billion in profit from July to September, a 79 per cent increase over the same period last year. And the company now boasts nearly 2.1 billion monthly users.
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