– Facebook Inc said on Wednesday that growth would continue to slow as its business matured and it reported a surge in quarterly expenses, disappointing Wall Street expectations that the costs of improving privacy would level off.
“We have experienced some modest impact from these headwinds to date. The majority of the impact lies in front of us,” Wehner said. The company addressed those issues starting in mid-2018 following repeated scandals, causing growth in expenses to surge by more than 100% for several quarters as it hired privacy staff and invested in content moderation.
It also announced it had reached a $550 million settlement in principle of an Illinois lawsuit that claimed it illegally collected and stored biometric data for millions of users without their consent. “FB stock had made a big run-up in anticipation of the report …so the room for error was low,” said Daniel Morgan, a portfolio manager at Synovus Trust Co.
ہم نے اس خبر کا خلاصہ کیا ہے تاکہ آپ اسے جلدی سے پڑھ سکیں۔ اگر آپ خبر میں دلچسپی رکھتے ہیں تو آپ مکمل متن یہاں پڑھ سکتے ہیں۔ مزید پڑھ:
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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