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Facebook : PwC had cleared Facebook's privacy practices in leak period

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04/20/2018 | 07:44am CEST
Facebook CEO Zuckerberg arrives to testify before a U.S. Senate joint hearing on Capitol Hill in Washington

(Reuters) - Facebook Inc's privacy practices were cleared by auditing firm PricewaterhouseCoopers LLP in an assessment completed last year of the period in which data analytics consultancy Cambridge Analytica gained access to the personal data of millions of Facebook users.

(Reuters) - Facebook Inc privacy practices were cleared by auditing firm PricewaterhouseCoopers LLP in an assessment completed last year of the period in which data analytics consultancy Cambridge Analytica gained access to the personal data of millions of Facebook users.

Facebook had established and implemented a comprehensive privacy programme and its privacy controls were operating with sufficient effectiveness to provide reasonable assurance to protect the privacy of covered information, PwC said in a report submitted to the Federal Trade Commission (FTC) dated December 2017 on the FTC website https://bit.ly/2JcezvB.

The report was an assessment of the period from Feb. 12, 2015 to Feb. 11, 2017.

The Wall Street Journal earlier reported on Thursday on the PwC assessment submitted to the FTC. PwC declined to comment when contacted by Reuters.

Facebook has been under scrutiny from lawmakers across the world since disclosing that the personal information of 87 million Facebook users wrongly ended up in the hands of Cambridge Analytica, a Britain-based firm hired by Donald Trump for his 2016 U.S. presidential election campaign.

"We remain strongly committed to protecting people's information. We appreciate the opportunity to answer questions the FTC may have," Facebook Deputy Chief Privacy Officer Rob Sherman told Reuters in an emailed statement on Thursday.

Facebook Chief Executive Mark Zuckerberg appeared for hearings in front of U.S. lawmakers last week and is currently facing pressure from European Union lawmakers to come to Europe and shed light on the data breach involving Cambridge Analytica.

(Reporting by Kanishka Singh in Bengaluru; Editing by Amrutha Gayathri)

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Financials ($)
Sales 2018 55 192 M
EBIT 2018 24 935 M
Net income 2018 21 434 M
Finance 2018 49 719 M
Yield 2018 -
P/E ratio 2018 23,30
P/E ratio 2019 19,18
EV / Sales 2018 7,86x
EV / Sales 2019 5,93x
Capitalization 483 B
Chart FACEBOOK
Duration : Period :
Facebook Technical Analysis Chart | FB | US30303M1027 | 4-Traders
Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 215 $
Spread / Average Target 28%
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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