Social media company Facebook plans to stop recommending politically weighted groups to its users, CEO Mark Zuckerberg said on Wednesday at the earnings announcement.
According to Zuckerberg, the policy is long-lasting and will be applied worldwide.
In addition, Facebook plans to reduce political content in the news feed visible to users.
The measures are expected to calm the debate on controversial issues, the company said.
Facebook has been repeatedly accused of allowing offensive and misleading content, for example.
Facebook’s operating profit grew in the last quarter of last year.
The company reported fourth-quarter operating profit of $ 11.2 billion, or about $ 9.3 billion.
The increase compared to the corresponding period of the previous year was 53 percent.
October-December revenue was $ 28 billion.
Growth compared to a year ago came to 33 percent.
Most of the company's turnover comes from advertising.
According to the company, the coronavirus pandemic has led people to use its services more than before, both at work and in their free time.
According to Facebook, at least one of its services was used by 3.3 billion people in December, including Instagram, Whatsapp and Messenger.
There were 2.8 billion users on Facebook.
However, Facebook warned of a possible slowdown in its growth this year.
This is due, for example, to various demands for more regulation.
Facebook shares fell about 3.5 percent after the earnings announcement.
Tesla sold about half a million vehicles
Electric car manufacturer Tesla Motors has recorded its first year of earnings for the first half.
However, the company’s share price declined after the announcement of earnings for the quarter as earnings were lower than expected.
Tesla's operating profit for 2020 was reported at $ 721 million, or about $ 588 million.
Back in 2019, Tesla made a loss of $ 862 million.
The company's total revenue grew by almost a third to more than $ 31 billion in the year under review, or 26 billion euros.
The last quarter of last year was the sixth consecutive profitable quarter for Tesla.
According to financial news agency Bloomberg, Tesla did not provide an estimate of how many cars it aims to deliver this year.
However, the company expects to exceed last year’s 50 percent growth rate.
According to Bloomberg, Tesla delivered nearly 500,000 vehicles last year, so the growth estimate for this year’s figure would be over 750,000.
Apple's quarterly revenue for the first time more than 100 billion
Hardware maker Apple’s late 2020 was a time of booming growth.
According to the company, its revenue rose to $ 111.4 billion in the fourth quarter, to nearly $ 92 billion.
Apple broke the 100 billion mark for the first time.
The increase in operating profit was 21 percent compared to the same period last year.
Operating profit for the quarter increased by almost a third from the previous year to $ 28.7 billion, or EUR 23.7 billion.
Two-thirds of the company’s sales were made in international markets outside the United States.
Of the total sales, $ 66 billion came from the iPhone business.
Apple's stock turned down about three percent after the earnings announcement.
The decline in the share was probably due to the fact that the company did not provide a forecast of future development.
Samsung fell short of analysts' expectations
South Korean hardware maker Samsung Electronics also reported growth in its operating profit, but figures for the rest of the year fell short of analysts ’expectations, Bloomberg says.
The operating profit of the world's largest smartphone manufacturer in October – December was almost six billion dollars, or about five billion euros.
Year-on-year growth was 26 percent.
According to Bloomberg, the lower-than-expected profit indicates a tightening of the smartphone market and weak price development in memory chips.