The social media firm set aside $3bn to deal with an expected US Federal Trade Commission fine, which could eventually amount to $5bn. But the controversies have had little impact on the tech behemoth’s bottom line.
The one-time charge slashed Facebook's first-quarter net income considerably, although revenue grew by 25 percent in the period. The FTC has been looking into whether Facebook broke its own 2011 agreement promising to protect user privacy.
New Zealand Prime Minister Jacinda Ardern welcomes the social media giant's ban that comes in the wake of a deadly terrorist attack on two mosques that killed 50 people people and was carried out by a self-confessed white supremacist.
The social network became the most downloaded on Apple's App Store in the first half of this year according to market analysis firm Sensor Tower, beating out titans like Facebook, Instagram and Snapchat.
Facebook and Twitter have shuttered fake pages and accounts they say are linked to the government. The move comes ahead of December 30 elections, in a nation where the political divide between the two major parties has widened and become more bitter.
The social network said it needed to do further analysis to decide if the accounts are linked to Russia's Internet Research Agency or another group.
The house-cleaning is part of the counter-measures that Facebook put in place in an attempt to prevent abuses similar to those Russian agents used two years ago to sway public opinion ahead of the 2016 US presidential election.
The company had originally said up to 50 million accounts were affected in a cyberattack that exploited a trio of software flaws to steal "access tokens" that enable people to automatically log back onto the platform.
Google decided to shut down social network website, Google+ after a bug exposed the personal information of up to 500,000 people.
The social networking giant assigns new roles to top executives in the aftermath of a huge privacy scandal involving the now-defunct Cambridge Analytica.
Users of the world's largest social network can make separate profiles to find a dating match based on shared interests.
If Facebook wants to maintain its status as the world's biggest social media network it will need to rebuild trust, yes, but more importantly it will need to share a piece of the pie.
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