The company said it recorded a $2 billion charge in the quarter tied to the FTC settlement. It previously set aside $3 billion.
The company said it counts more than 2.7 billion monthly users across the its family of apps, up slightly compared to the previous quarter. Facebook saw its user base in Europe remained flat quarter-to-quarter at 286 million daily active users. The company's user base in the U.S. and Canada was 187 million, up slightly compared to 186 million in the prior quarter. The company said average revenue per user was $7.05, up 18% from $5.97 a year ago.
Facebook also announced that it was informed by the FTC in June that the agency had opened an antitrust investigation into the company. Facebook's business continues to grow at a rapid clip. The company is undergoing a major transition from News Feed ads as it expands ad revenue from its newer Stories products. Already, Facebook says it has more than 500 million daily users for the Stories features across Facebook, Instagram, WhatsApp and Messenger., CEO Mark Zuckerberg wrote that the future of Facebook will be "private, encrypted services.
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Where does all that $ go!?
How does that settlement change their anti-American policies towards their users with regard to what they are and are not allowed to say on the platform?
Now that’s a plot twist
Where does that money go?
Zuckerweisel is going to get harassed going forward. He’s been caught lying so much he’s got no credibility left.
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