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Facebook continues to grow like crazy, despite FTC fines
Facebook's $5 billion FTC fine is historic, but everybody knew it was coming. Three months ago, during its last quarterly earnings report, the social network estimated that it would be fined between $3 billion and $5 billion over the Cambridge Analytica scandal. And even though the FTC ended going for the higher fine, the company's stock still kept rising today after the news broke. It's also pretty clear that $5 billion is pretty much a wrist slap, after Facebook reported second quarter revenues of $16.9 billion today, up 28 percent from a year ago. What good is a huge government rebuke if Facebook can barely feel the loss?
