Facebook stock rose 1.77% on Monday
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Facebook’s appointment of Newstead seems to be an important move for the company, which is currently grappling with US and UK regulatory investigations related to data privacy concerns and fake news.
Like Facebook, Alphabet’s (GOOGL) Google and Twitter (TWTR) are struggling with fake news, data breaches, and other issues. These challenges could hurt their biggest revenue source, advertising revenue. Facebook’s ad revenue grew 30% YoY (year-over-year) to $16.6 billion in the fourth quarter while Twitter’s and Google’s grew 23% and 20% YoY, respectively.