The upward trajectory of Facebook’s financial performance continues unabated in the face of countless security and privacy scandals, including a potential record-setting Financial Trade Commission fine.
The company posted first-quarter earnings today for 2019, highlighting its continued monthly and daily active user increases and a 26 percent increase in year over year sales, to $15.1 billion. But Facebook also says it is setting aside $3 billion, or roughly six percent of its cash and marketable securities on hand, for the FTC fine that is coming down the pipe at some point likely later this year.
“In the first quarter of 2019, we reasonably estimated a probable loss and recorded an accrual of $3.0 billion in connection with the...
Facebook sets aside $3 billion ahead of record FTC fine over privacy violations appeared first on http://www.theverge.com
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