- Facebook CEO Mark Zuckerberg testified before Congress Tuesday and Wednesday over user data privacy.
- Revenue remains on track, as ad prices are increasing.
- The real risk is that Facebook is spending on new hires to implement privacy mechanisms, potentially putting pressure on margins.
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The 'Facebook is bad for society' narrative isn't flying with advertisers, Barclays says (FB)
The "Delete Facebook" movement isn't scaring away advertisers.
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Advertisers aren't worried about users fleeing Facebook in light of privacy issues, according Barclays analyst Ross Sandler.
The social media giant has faced some public relations troubles surrounding fake news and the Cambridge Analytica data scandal, with several celebrities speaking out against the platform.
In February, the actor Jim Carrey sold his Facebook shares due to the company profiting from Russian interference in the US election.
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"Despite the growing privacy concerns and 'Facebook is bad for society' narrative, most direct response advertisers are making decisions based on ROI and not headlines and continue to spend at a very healthy clip," Sandler said in a note sent out to clients on Thursday.
He added, "
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