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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook Inc    FB

FACEBOOK INC

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Facebook : Irish regulator probes Facebook's handling of children's data on Instagram

10/18/2020 | 09:50pm EST
FILE PHOTO: Silhouettes of mobile users are seen next to a screen projection of the Instagram logo in this picture illustration

(Reuters) - Ireland's Data Protection Commission (DPC) has launched two inquiries into Facebook Inc after concerns were raised about the social network giant's handling of children's personal data on Instagram.

The DPC, the main data privacy regulator in the European Union, received complaints from individuals and had identified "potential concerns" in relation to the processing of children's personal data on Instagram, Deputy Commissioner Graham Doyle told Reuters in an emailed statement.

Both inquiries were launched last month, Doyle said in the statement.

Facebook did not immediately respond when contacted by Reuters on Sunday.

The Telegraph, which first reported the inquiry, said Instagram made the email addresses and phone numbers of users under 18 public.

The Irish regulator launched its probe following a complaint by David Stier, a U.S. data scientist, the Telegraph added.

The first inquiry looks to establish if Facebook has the legal basis to process the data and whether it employs adequate protections and/or restrictions on Instagram.

"This inquiry will also consider whether Facebook meets its obligations as a data controller with regard to transparency requirements in its provision of Instagram to children," Doyle said.

Instagram's profile and account settings will be the focus of the second inquiry, examining whether the social media company is adhering to the regulator's data protection requirements.

Ireland hosts the European headquarters of a number of U.S. technology firms, making the DPC the EU's lead regulator under the bloc's General Data Protection Regulation's "One Stop Shop" regime introduced in 2018.

The new rules give regulators the power to impose fines for violations of up to 4% of a company's global revenue or 20 million euros (£18 million), whichever is higher.

(Reporting by Aishwarya Nair in Bengaluru; Editing by Lincoln Feast.)

By Aishwarya Nair


© Reuters 2020
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Financials (USD)
Sales 2020 83 587 M - -
Net income 2020 26 870 M - -
Net cash 2020 63 906 M - -
P/E ratio 2020 30,7x
Yield 2020 -
Capitalization 816 B 816 B -
EV / Sales 2020 9,00x
EV / Sales 2021 7,06x
Nbr of Employees 56 653
Free-Float 83,8%
Chart FACEBOOK INC
Duration : Period :
Facebook Inc Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends FACEBOOK INC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 51
Average target price 315,73 $
Last Close Price 286,55 $
Spread / Highest target 30,9%
Spread / Average Target 10,2%
Spread / Lowest Target -58,1%
EPS Revisions
Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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