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.
Subscribe to 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.
-
'Tariff stacking' is creating problems for businesses
The Explainer Imports from China are the most heavily affected
-
Can MAGA survive a US war on Iran?
Talking Points Trump's wavering sparks debate about 'America First'
-
'The Minnesota attacks join a grim catalog of political violence'
Instant Opinion Opinion, comment and editorials of the day
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores