Recently, Facebook received the heaviest penalty in its history by being ordered to pay the American Competition Authority, the famous FTC, the sum of $ 5 billion. In addition to the fine, the social network will have to rethink its privacy management. Enforcing compliance measures such as quarterly reporting, and create an independent privacy committee. So, the quarterly results of the firm could be affected by this, but in fact, the results are very good.
Facebook still earns money and users
Gizchina News of the week
In the second quarter of 2019, Facebook generated a revenue of $16.9 billion, up 28% year-on-year. Forecasters had forecast a turnover of 16.5 billion. The net profit of the group still fell by half, reaching “only” 2.62 billion dollars. But $2 billion is fictitiously added to that figure, which has been withdrawn to pay the fine imposed by the FTC. As a reminder, Facebook had already provisioned $3 billion.
Facebook also continues to inflate its numbers in terms of users. The firm has 1.59 billion daily active users in June 2019, an increase of 8% over the last twelve months. The number of monthly active users crossed the 2.41 billion, there also up 8% over this last year.
Finally, Mark Zuckerberg’s group now employs 39,651 people, which is an increase by 31% since last year.
