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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

FACEBOOK

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Facebook : to pay 5 bln dollars fine for privacy violations

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07/12/2019 | 10:41pm EST

The U.S. Federal Trade Commission (FTC) approved a settlement involving about 5 billion U.S. dollars with Facebook over its probe into the tech giant's privacy violations, The Wall Street Journal reported Friday, Trend reports.

FTC commissioners voted by 3-2 with Republicans in support and Democrats in opposition to the penalty, it reported.

The matter has been moved to the U.S. Justice Department for a review, according to the Journal.

It is still unclear what restrictions are on Facebook's handling of user privacy in the settlement. FTC and Facebook declined to comment on the story. But Facebook said in April that it expected to pay up to 5 billion dollars to settle the probe.

FTC initiated the investigation after a scandal involving former British consulting firm Cambridge Analytica, which was accused of illegally accessing data of more than 87 million Facebook users without their prior knowledge. FTC investigated whether Facebook's data sharing with the British firm violated a 2011 consent agreement signed between Facebook and the regulator.

The fine, if finalized, might be the largest one the FTC has ever levied on a tech company. But it's affordable for Facebook which brought in almost 56 billion dollars in revenue in 2018. Facebook's share closed 1.81 percent higher on Friday.

© 2019 Trend News Agency ALL RIGHTS RESERVED, source News Service

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Financials (USD)
Sales 2020 85 662 M
EBIT 2020 31 475 M
Net income 2020 25 987 M
Finance 2020 68 372 M
Yield 2020 -
P/E ratio 2020 23,3x
P/E ratio 2021 19,4x
EV / Sales2020 6,20x
EV / Sales2021 5,00x
Capitalization 599 B
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Mean consensus BUY
Number of Analysts 52
Average target price 244,76  $
Last Close Price 210,18  $
Spread / Highest target 42,7%
Spread / Average Target 16,5%
Spread / Lowest Target -42,9%
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Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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