Facebook Regulatory Risk 'Significant,' Says Analyst, Citing Hate Speech Battle
Despite Facebook’s ongoing promises to battle hate speech and dissemination of false information, “much needs to be done,” Wedbush's Michael Pachter wrote investors Monday. “Regulatory risk remains significant,” he said, noting that Facebook reported it acted on 22 million pieces…
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of hate speech in Q3 and estimated 10-11 out of every 10,000 content views included hate speech. Wedbush estimates Q4 revenue of $25.4 billion, for 21% growth. The social media platform didn’t provide Q4 guidance due to COVID-19 uncertainties, but year-on-year ad revenue growth is expected to rise from Q3's 22%. Management expects strong Oculus Quest 2 sales in Q4, said the analyst. "Facebook has consistently executed on its core business model and we expect revenue to grow in correlation to the global macroeconomic outlook and associated advertising demand." It reports Q4 Wednesday.