No articles found to show on this page.
Twitter says it could turn its first ever profit in the fourth quarter, after cutting expenses and finding sources of revenue beyond advertising. Angela Moore reports.
Video provided by Reuters
According to a recent report from the Pew Research Center, 67% of American adults now “get at least some of their news” from social media. That’s up from 62% in 2016.
That trend is troubling, since Facebook (NASDAQ: FB), Alphabet‘s (NASDAQ: GOOG)(NASDAQ: GOOGL) Google, and Twitter (NYSE: TWTR) have admitted that it’s difficult to filter out fake news stories. All three companies were recently implicated in selling ads to Russian operatives, who used their platforms to spread fake stories in order to divide Americans during last year’s presidential campaign.
Facebook, Google, and Twitter have all vowed to clean up their acts. Facebook plans to hire 1,000 new employees to monitor ads on the platform. Google upgraded YouTube’s algorithm to halt the promotion of conspiracy theories and fake news, and Twitter recently deleted over 200 Russian bot accounts.
Those are steps in the right direction, but it’s unclear if they’ll fix the ongoing problems with fake news on social media. For now, investors should see if the issues have affected these companies’ relationships with advertisers. Some advertisers previously boycotted YouTube over their ads appearing alongside racist and homophobic videos, so Facebook and Twitter should proceed with caution.
More:A Foolish Take: The 10 biggest landowners in America
More:A Foolish Take: The best-performing SP 500 stock this year
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Leo Sun has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Facebook, and Twitter. The Motley Fool has a disclosure policy.
The Motley Fool is a USA TODAY content partner offering financial news, analysis and commentary designed to help people take control of their financial lives. Its content is produced independently of USA TODAY.
Offer from the Motley Fool: Offer from The Motley Fool: The 10 best stocks to buy now
Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market. In fact, the newsletter they run, Motley Fool Stock Advisor, has tripled the SP 500!*
Tom and David just revealed their ten top stock picks for investors to buy right now.
*Stock Advisor returns as of Oct. 9, 2017.