Facebook has pointed out it will set aside $3bn (£2.3bn) to cover the potential costs of an investigation by U.S authorities into its privacy practices.
This comes after a series of mishaps by the social media platform over the past year from exposing private user information and failure to pre-screen content such as the New Zealand mosque shootings live stream as reported by The Sauce.
According to the BBC, the social media giant also said total sales for the first three months of the year leaped 26% to $15.08bn, narrowly beating market expectations.
Monthly users rose 8%, it said. That rise takes the number of users to 2.38 billion. “We had a good quarter and our business and community continued to grow,” founder and chief executive Mark Zuckerberg said.
“We are focused on building out our privacy-focused vision for the future of social networking, and working collaboratively to address important issues around the internet.”
Facebook is facing a probe over the Cambridge Analytica data scandal, however, no findings have been published.
Facebook was labeled “morally bankrupt pathological liars” by New Zealand’s privacy commissioner this month after hosting a live stream of the Christchurch attacks that left 50 dead.
In an interview after the attacks, Mr. Zuckerberg refused to commit to any changes to the platform’s live technology, including a time delay on live streams.
Facebook, which owns Instagram, last week admitted that millions more Instagram users were affected by a security lapse than it had previously disclosed. It had mistakenly stored the passwords of hundreds of millions of users without encryption.