Facebook sets aside $3 billion ahead of record FTC fine over privacy violations
Facebook’s financial success continues unabated in the face of countless security and privacy scandals, including a potential record-setting Federal Trade Commission fine. The fine, the potential amount of which was first reported by The Washington Post in February, is related mostly to the Cambridge Analytica scandal that was revealed in March of last year, as well as the seemingly never-ending series of subsequent breaches and leaks that have dogged Facebook in the months since.
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, up to $15.1 billion and ahead of Wall Street expectations. But Facebook also says it...