Zuckerberg completes lengthy day one U.S. Senate testimony
Facebook Inc shares posted their biggest daily gain in nearly two years on Tuesday (April 10) as Chief Executive Mark Zuckerberg fended off questions from U.S. senators on day one of his testimony on how the world’s largest social network might be regulated more closely.
Zuckerberg repeated apologies made on Monday for a range of problems that have beset Facebook, from data privacy to foreign attempts to influence U.S. elections, but the 33-year-old internet mogul managed to deter any specific talk about new laws and made no new promises.
He denied that Facebook, which has more than 2 billion monthly users across the world, was a monopoly. “It certainly doesn’t feel that way to me,” Zuckerberg said, nearing the end of a nearly 5-hour hearing.
Wearing a dark suit and tie instead of his typical T-shirt and jeans, Zuckerberg appeared largely unruffled as senators questioned him. Investors welcomed his performance.