LIVE: Facebook expects to be hit with $3-5 billion fine by the FTC, as it beats Wall Street's revenue expectations for Q1 (FB)

Apr 24 2019 by Business Insider

 

Facebook has set aside $3 billion in anticipation of an expected multi-billion dollar fine from US regulators.

On Wednesday, the California social networking giant announced its Q1 2019 financial results. It beat Wall Street's expectations for revenue for the quarter, and announced that it was preparing for a fine from the Federal Trade Commission in the $3-5 billion range relating to its investigation of Facebook's alleged violations of a 2011 consent decree relating to user privacy.

The...

Continue Reading LIVE: Facebook expects to be hit with $3-5 billion fine by the FTC, as it beats Wall Street's revenue expectations for Q1 (FB)