Microsoft paused all advertisements on Facebook and subsidiary Instagram’s social media platforms in the United States in May, Axios reported Monday.

The veteran technology company recently further paused all advertisements on Facebook and Instagram across the globe, according to Axios.

In an internal statement accessed by Axios, Microsoft objected to its ads appearing next to content it deems inappropriate, including “hate speech, pornography, terrorist content, etc.”

The Redmond, Washington-based company stated that it has been in communication with top leadership at Facebook about what it will take for it to resume advertising on the latter’s social media platforms.

“The timeline on resuming our media spending is dependent on the positive actions they take, but I expect our pause will continue through August,” Microsoft chief marketing officer Chris Capossela said, as reported by Axios.

Facebook has lost about $60 billion in the last two trading sessions, as the company faces a string of boycotts over its stance on harmful content on its platform.

Starbucks, Coca Cola, Diageo, Verizon, and Unilever subsidiary Ben and Jerry are some of the high-profile companies to have joined the “Stop Hate for Profit” campaign.

Facebook shares closed 2.1% higher at $220.64 on Monday and traded slightly higher in the after-hours session.

Microsoft stock closed nearly 1.1% higher at $198.44 per share and added another 0.3% in after-hours at $199.

This story originally appeared on Benzinga.

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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