Facebook Inc on Tuesday relieved investors by forecasting that margins would stop shrinking after 2019 as costs from scandals ease up, sending shares up despite a second-straight quarter with record-low user growth.
Facebook Incand its chief executive Mark Zuckerberg were sued on Friday in what could be the first of many lawsuits over a disappointing earnings announcement that wiped out about $120 billion of shareholder wealth.
Facebook is unlikely to compensate the 2.7 million European users whose data was improperly shared with political consultancy Cambridge Analytica because sensitive bank account data had not been shared.
Facebook Chief Executive Mark Zuckerberg will meet with leaders of the European Parliament on Tuesday to answer questions about how the data of millions of Facebook users ended up in the hands of a political consultancy.
Facebook shares rose on Wednesday after the social network reported a surprisingly strong 63 percent rise in profit and an increase in users, with no sign that business was hurt by a recent mishandling of personal data.