US: Facebook announces new FTC probe

By CPI | July 25, 2019

Just a few hours after Facebook agreed to the Federal Trade Commission’s (FTC) US$5 billion fine, Facebook announced an FTC antitrust probe into the company, reported the Financial Times.

Alongside its second quarter earnings report, Facebook revealed that the FTC opened an antitrust investigation in June.

In its earnings release, the company stated said it would set aside US$2 billion to cover the rest of the FTC fine, after already allocating US$3 billion towards the cost in its first-quarter results in April.

Both analysts and Facebook predicted that a “more pronounced deceleration” in revenue growth is to be expected later in the year.

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