April 25, 2019 Breaches, Business, Featured News
Patrick Howard O’Neill reports:
Facebook expected expenses of $3-5 billion in its ongoing case with the Federal Trade Commission over privacy violations, the company announced on Wednesday in its financial earnings report.
The fine is a record for the FTC and represents at most a third of quarterly earnings for the Silicon Valley giant who brought in approximately $15 billion in revenue the first quarter of 2019.
“The matter remains unresolved and there can be no assurance as to the timing or the terms of any final outcome,” the company’s financial results said.
Read more on Gizmodo.
via Joe Cadillic
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