The one-time charge slashes Facebook’s first-quarter net income considerably, although revenue grew by 25 per cent
SAN FRANCISCO — Facebook is taking a US$3-billion charge as a contingency against a possible fine by the Federal Trade Commission. The agency has been investigating Facebook, but has not announced any findings yet.
in the period. The FTC has been looking into whether Facebook is in violation of a 2011 agreement promising to protect user privacy. The social network said Wednesday that its net income was 85 US cents per share in the January-March period. Revenue grew 26 per cent to US$15.08 billion from a year earlier. Excluding the charge, it earned US$1.89 per share.
Monthly active users rose to 2.38 billion, beating estimates of 2.37 billion, according to IBES data from Refinitiv.With a file from Reuters
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canopy to buy Acreage in US$3.4B deal, gaining major U.S. footprint - BNN BloombergCanopy Growth Corp. plans to acquire U.S. marijuana operator Acreage Holdings Inc. in a blockbuster deal that would create a North American cannabis powerhouse - but only when it becomes legal to do so.
Read more »
What it went for… $3 millionThis four-bedroom, four-bathroom stone bungalow in Aurora has about 7,000 square feet of luxury living space
Read more »
Saudi Arabia, UAE grant $3-billion of support to SudanThe two countries will deposit $500-million with the Sudanese central bank and send the rest in the form of food, medicine and petroleum products
Read more »
Saudi Arabia, UAE grant $3-billion of support to SudanThe two countries will deposit $500-million with the Sudanese central bank and send the rest in the form of food, medicine and petroleum products
Read more »
Online platforms warned of fines, charges if they don't comply with new political ad rulesElections Canada has sent a new edict to online platforms like Facebook and Google to inform them of the need to abide by new political advertising rules, and is warning that not complying could result in fines or charges.
Read more »
What it went for… $3 millionThis four-bedroom, four-bathroom stone bungalow in Aurora has about 7,000 square feet of luxury living space
Read more »
Canopy to buy Acreage in US$3.4B deal, gaining major U.S. footprint - BNN BloombergCanopy Growth Corp. plans to acquire U.S. marijuana operator Acreage Holdings Inc. in a blockbuster deal that would create a North American cannabis powerhouse - but only when it becomes legal to do so.
Read more »
Music program founder charged with lewd acts against girlsThe founder of a non-profit group that was investigated over allegations it gave flutes possibly tainted with semen to schoolchildren has been charged with committing lewd acts against girls in California, it was announced Thursday.
Read more »
More Attacks Possible In Sri Lanka, Global Affairs Canada WarnsThe agency is telling Canadians in the country to limit their movement.
Read more »
Possible intel failures to be examined in Sri Lanka blastsPolice in Sri Lanka said Monday the investigation into the Easter Sunday bombings will examine reports that the intelligence community failed to detect or warn of possible suicide attacks before the violence.
Read more »