Mark Zuckerberg: Facebook will make more profits by preventing abuse

According to CNN – The crisis over Russian-bought ads hasn’t slowed down Facebook yet, but it might.

Facebook (FB, Tech30) said Wednesday that sales topped $10 billion in the third quarter, up nearly 50% from the same quarter a year earlier, fueled by the continued strength of its advertising products. Its profits jumped 79% to $4.7 billion for the quarter.

But CEO Mark Zuckerberg said profits will take a hit as the company invests more heavily in security.

“We’re serious about preventing abuse on our platforms. We’re investing so much in security that it will impact our profitability,” Zuckerberg said in a statement. “Protecting our community is more important than maximizing our profits.”

“I wanted our investors to hear that directly from me,” Zuckerberg said about the security investment, speaking on an earnings call. “I believe that will make our society stronger.”

The earnings report was released as a Facebook exec was testifying in the last of three hearings before Congress this week into how Russian actors used social media to meddle in the 2016 presidential election.

“I’ve expressed how upset I am that the Russians tried to use our tool to sow distrust,” Zuckerberg said on the call. “What they did is wrong and we are not going to stand for it.”

“I am dead serious about this,” he added.

Zuckerberg said protecting the security of the social network “goes beyond elections.” It also means “strengthening all our systems to prevent abuse”

At the hearings, Facebook, Twitter (TWTR, Tech30) and Google (GOOG) were pressed on whether they’re even capable of preventing bad actors from taking advantage of their platforms through ads and regular posts.