Politics were in the forefront as Facebook FB reported its third quarter earnings.
The social media giant reported earnings per share of $2.12 on $17.65 billion in revenue, compared to analyst forecasts of $1.91 per share on $17.26 billion in revenue according to FactSet.
Despite the earnings beat, CEO Mark Zuckerberg predicted a tough year ahead for Facebook as election season kicks off in earnest. "Over the next year of campaigns, we're going to be at the center of the debate any time there is content or policy on any of our services that people believe could advantage or disadvantage their side. This may lead to more investigations, and the candidates are going to criticize us. I expect that this is going to be a very tough year," Zuckerberg said.
Facebook's decision to continue to host and not vet political ads on its platform will likely continue to be at the forefront of any controversy.
As Twitter (TWTR) - Get Report moves to ban political advertising altogether, Jim Cramer broke down what to expect from Facebook's house of cards, and it has nothing to do with an internal decision from Facebook.
"The government will decide [on political ads], not Facebook," Jim Cramer said. Catch his full take in the video above.
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