Facebook sales surge to $16B, dwarfing FTC privacy settlement

Published July 24, 2019 9:01pm ET



Facebook sales soared 28% to $16.6 billion in the three months through June, more than three times what the social media giant is paying to settle a privacy investigation by the Federal Trade Commission.

The cost of operational changes the commission required in addition to its $5 billion fine, which will take hundreds of engineers and involve more than 1,000 people across the company, remain to be seen. The Menlo Park, California-based business is naming a chief privacy officer, appointing a related board committee and executives will be required to certify personally that Facebook is meeting its commitments to regulators.

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