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Maintaining that idealistic vision for Threads - which attracted more than 70 million users in its first two days - is another story. To be sure, Meta Platforms (META.O) is no newbie at managing the rage-baiting, smut-posting internet hordes. For starters, the company will not extend its existing fact-checking program to Threads, spokesperson Christine Pai said in an emailed statement on Thursday. Asked by Reuters to explain why it was taking a different approach to misinformation on Threads, Meta declined to answer. INTO THE FEDIVERSEFurther challenges in moderating content are in store once Meta links Threads to the so-called fediverse, where users from servers operated by other non-Meta entities will be able to communicate with Threads users.
Persons: Mark Zuckerberg, Elon Musk, Zuckerberg, Christine Pai, Pai, Adam Mosseri, Instagram, satanists, Donald Trump, Meta's Pai, Alex Stamos, Solomon Messing, Katie Paul, Kenneth Li, Matthew Lewis Organizations: YORK, Meta, Reuters, New York Times, West Bank, Conservative, Stanford Internet Observatory, Center for Social Media, New York University, San, Thomson Locations: San Francisco
Late Wednesday, Meta reported revenue that topped analysts' expectations and announced a $40 billion stock buyback plan. Firms also responded positively to Meta's earnings report, with Bank of America and Goldman Sachs rating the stock a buy. W.W. Grainger reported adjusted quarterly earnings of $7.14 per diluted share, which came in ahead of the $7.01 per share estimated by analysts, according to FactSet. Align Technology — The orthodontics company saw its shares surge 28% the day after its quarterly earnings and revenue beat analysts' expectations, according to Refinitiv. The company posted earnings and revenue that came in short of analysts' estimates, according to FactSet.
The Commission took issue with Meta's pairing of Facebook Marketplace with its personal social network. The European Union on Monday issued Facebook parent company Meta with a list of objections over of its online classifieds business, Facebook Marketplace. The European Commission, the EU's executive arm, said that it found Meta breached EU antitrust rules by distorting competition in the markets for online classified ads. It said it was concerned this arrangement gives Facebook Marketplace a "substantial distribution advantage that competitors cannot match." Tim Lamb, head of EMEA competition at Meta, said: "The claims made by the European Commission are without foundation."
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