Facebook continues to grow and to impress Wall Street despite controversy. It has come under fire for its privacy practices, and for its role in the spreading of misinformation and the distribution of harmful content. Nevertheless, in 2018, it generated $55.8 billion in revenue, up 37% from 2017, while the number of users on its core app rose by 9%. It appears that 2019 will be a rollercoaster: The company has said it expects to pay a fine of up to $5 billion related to a Federal Trade Commission probe into how it manages user data. CEO Mark Zuckerberg recently announced a new privacy-based strategy that could significantly change how customers use the product, with a focus on Facebook groups, encryption, and ephemeral content.
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This is your Data Sheet newsletter for Friday, June 21, 2019.