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Facebook: Not saying we've done anything wrong but... we're just putting $3bn profit aside for an FTC privacy fine

Facebook: Not saying we've done anything wrong but... we're just putting $3bn profit aside for an FTC privacy fine

5 years ago
Anonymous $9jpehmcKty

https://www.theregister.co.uk/2019/04/24/facebook_q1_fy2019_ftc_hit/

Facebook's financial figures for its first quarter of 2019, published Wednesday, had an interesting twist.

The Mark Zuckerberg-run biz set aside $3bn of its profits, effectively halving its net income, to foot an expected fine from America's trade watchdog for seemingly running roughshod over people's privacy.