Although Facebook's growth has slowed down over the past year, all the controversies it has faced in recent months haven't had effect on its bottom line. But that may be changing. Today, during its Q1 2019 earnings report, Facebook reported a total revenue of $15.1 billion, a 26 percent year-over-year increase. The most interesting part, however, is that Facebook says it estimates spending between $3 and $5 billion as part of an ongoing investigation by the Federal Trade Commission (FTC) into its data-sharing practices.
As a result of that, the company accrued a $3 billion expense this quarter, and its overall net profit dropped 51 percent compared to a year ago.
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Source: Facebook
Facebook’s FTC fine could cost it between $3 and $5 billion posted first on https://www.engadget.com
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