Facebook beats profit estimates, sets aside $3 billion for privacy penalty

Facebook Inc on Wednesday blew away Wall Street profit estimates in the first quarter as it kept a lid on the costs of making its social networks safer, and set aside $3 billion to cover a settlement with U.S. regulators, calming investors who had worried about the outcome of a months-long federal probe.

from Reuters: Technology News https://reut.rs/2W4ABXT