Alva Review-Courier -

Facebook anticipates an FTC privacy fine of up to $5 billion

 

April 25, 2019



SAN FRANCISCO (AP) — Facebook said it expects a fine of up to $5 billion from the Federal Trade Commission, which is investigating whether the social network violated its users' privacy.

The company set aside $3 billion in its quarterly earnings report Wednesday as a contingency against the possible penalty but noted that the "matter remains unresolved."

The one-time charge slashed Facebook's first-quarter net income considerably, although revenue grew 26% in the period. The FTC has been looking into whether Facebook broke its own 2011 agreement promising to protect user privacy.

Investor...



For access to this article please sign in or subscribe.



 

Reader Comments
(0)

 
 

Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2019