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Earnings

Facebook warns of costly privacy changes, discloses another US probe

Updated : July 25, 2019 06:42 AM IST

Facebook earlier agreed to pay $5 billion to settle a US Federal Trade Commission data privacy probe but then disclosed that the regulator was now investigating it for anti-competitive behaviour.
Second-quarter revenue rose to $16.9 billion from $13.2 billion a year ago, beating analysts' average estimate of $16.5 billion, according to IBES data from Refinitiv.
For the quarter, Facebook reported 2.7 billion monthly users and 2.1 billion daily users across Facebook, Messenger, Instagram and WhatsApp, both figures about the same as last quarter.
Facebook warns of costly privacy changes, discloses another US probe
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