Facebook would likely brush off a $5 billion fine from the FTC


Oh, the wonders of Silicon Valley.
Facebook said on Wednesday that it expects to face a fine of up to $5 billion from the Federal Trade Commission for allegedly violating a 2011 privacy consent decree. The New York Times reports that the total would be a record penalty for a technology company by the agency. But at the end of the day, it doesn't seem like the social media company will lose much sleep over the amount.
Facebook disclosed the fine in its quarterly financial results, estimating that it would take a one-time charge of $3 billion to $5 billion from the FTC. But even when accounting for the hit, CNBC reports Facebook still exceeded revenue expectations — the company took in $15.08 billion for the quarter and met its target for daily active user growth.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
As much criticism as CEO Mark Zuckerberg and the company have faced recently for playing fast and loose with user data, the ultimate insignificance is a sobering reminder of just how much of a giant Facebook really is. Tim O'Donnell
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.
-
September 9 editorial cartoons
Cartoons Tuesday’s political cartoons include the shadow of Jeffrey Epstein, Russia's answer to peace talks, and tougher citizenship questions
-
Murdoch's conservative son wins succession battle
Speed Read Lachlan Murdoch will get control over the media empire that includes Fox News and The Wall Street Journal following his father's death, while his siblings will receive payouts
-
House posts lewd Epstein note attributed to Trump
Speed Read The estate of Jeffrey Epstein turned over the infamous 2003 birthday note from President Donald Trump
-
New York court tosses Trump's $500M fraud fine
Speed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year