Facebook Controversies Aren't Hurting the Bottom Line
Facebook (NASDAQ: FB) has had its share of tough issues to manage over the past year.
The company continued to deal with the fallout from its involvement in a data breach scandal related to the 2016 U.S. presidential election that affected millions of Facebook accounts. The tech giant had to pay a hefty $5 billion government fine this year and update its security settings as part of efforts to settle that matter. Then Facebook was listed as one of four large tech companies at the center of a government probe into anti-competitive and monopolistic practices related to how it manages and controls online traffic and communication. Then the social media platform launched the controversial Libra project, an initiative to create a cryptocurrency to facilitate financial transactions worldwide -- particularly for those with no access to traditional banks. The endeavor raised a plethora of security and regulatory issues, and Facebook's involvement in the project has been widely criticized.
All of these issues would be more than enough to have a profound (and negative) financial impact on most companies, but Facebook seems to be holding its own -- at least if its latest financial results, released on Oct. 30, are any indication.
Source Fool.com
