The US government may not be over Facebook’s many scandals, but advertisers, users, and investors certainly don’t seem to mind.  In first-quarter earnings released today (April 24), Facebook noted an impact on its earnings from a one-time charge of $3 billion, a fine levied by the US Federal Trade Commission (FTC). The Washington Post reported in February that Facebook and the agency were negotiating the fees, which are related to recent privacy breaches and lapses at the company.  But not even the US government can stop Facebook from making boatloads of cash. The company generated over $15 billion in revenue in the first quarter, a jump of about 26% over the roughly $12 billion it posted in the same period last year. Analysts surveyed by Nasdaq had been expecting revenue of $14.97 billion. Even with the $3 billion Facebook is setting aside for the FTC, the company still managed to bring in nearly $2.5 billion in income. Without the fine, it would’ve easily topped the $4.98 billion it brought in in the same quarter last year.  Sign up for the Quartz Obsession email Enter your email Sign me up  Stay updated about Quartz products and events. Thanks for supporting our journalism! You’ve hit your monthly article limit. Become a member to help build the future of Quartz. Get unlimited access to Quartz on all devices. Unlock member-exclusive coverage, CEO interviews, member-only events, conference calls with our editors, and more.  Start free trial
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The US government may not be over Facebook’s many scandals, but advertisers, users, and investors certainly don’t seem to mind. In first-quarter earnings released today (April 24), Facebook noted an impact on its earnings from a one-time charge of $3 billion, a fine levied by the US Federal Trade Commission (FTC). The Washington Post reported in February that Facebook and the agency were negotiating the fees, which are related to recent privacy breaches and lapses at the company. But not even the US government can stop Facebook from making boatloads of cash. The company generated over $15 billion in revenue in the first quarter, a jump of about 26% over the roughly $12 billion it posted in the same period last year. Analysts surveyed by Nasdaq had been expecting revenue of $14.97 billion. Even with the $3 billion Facebook is setting aside for the FTC, the company still managed to bring in nearly $2.5 billion in income. Without the fine, it would’ve easily topped the $4.98 billion it brought in in the same quarter last year. Sign up for the Quartz Obsession email Enter your email Sign me up Stay updated about Quartz products and events. Thanks for supporting our journalism! You’ve hit your monthly article limit. Become a member to help build the future of Quartz. Get unlimited access to Quartz on all devices. Unlock member-exclusive coverage, CEO interviews, member-only events, conference calls with our editors, and more. Start free trial

Snapchat is still trying to make mobile TV happen. The smartphone app, which began releasing five-minute reality, news, and lifestyle shows last …
Microsoft’s successes in the cloud may look like storm clouds for its competitors.  Quarterly earnings (July 18) beat analysts’ expectations across the board today (July 18), as the company posted $33.72 billion in revenue—a jump of 12% over the same period last year.  Microsoft is the only company—tech or otherwise—with a market capitalization over $1 trillion. Although Apple recently topped that figure, a string of underwhelming earnings reports (by the company’s high standards) have seen it drop below Microsoft and Amazon.  Enjoy this content in the new Quartz app Get the app Thanks for supporting our journalism! You’ve hit your monthly article limit. Become a member to help build the future of Quartz. Get unlimited access to Quartz on all devices. Unlock member-exclusive coverage, CEO interviews, member-only events, conference calls with our editors, and more.  Start free trial Log in Membership will also get you:   Exclusive videos that show you how the world is changing faster than ever before
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Microsoft’s successes in the cloud may look like storm clouds for its competitors. Quarterly earnings (July 18) beat analysts’ expectations across the board today (July 18), as the company posted $33.72 billion in revenue—a jump of 12% over the same period last year. Microsoft is the only company—tech or otherwise—with a market capitalization over $1 trillion. Although Apple recently topped that figure, a string of underwhelming earnings reports (by the company’s high standards) have seen it drop below Microsoft and Amazon. Enjoy this content in the new Quartz app Get the app Thanks for supporting our journalism! You’ve hit your monthly article limit. Become a member to help build the future of Quartz. Get unlimited access to Quartz on all devices. Unlock member-exclusive coverage, CEO interviews, member-only events, conference calls with our editors, and more. Start free trial Log in Membership will also get you: Exclusive videos that show you how the world is changing faster than ever before

The US government may not be over Facebook’s many scandals, but advertisers, users, and investors certainly don’t seem to mind. …
When Facebook announced last month its intention to launch its Libra cryptocurrency, the company aimed to release the digital money in the first half of 2020. But policy experts say the project is unlikely to proceed at that pace—if at all.  “The odds that Libra receives regulatory approval anytime soon (i.e., in the next 6-12 months) are quite low,” Angela Walch, a research fellow at University College London’s Centre for Blockchain Technologies, wrote in an email to Quartz. “This is such a massive proposal, with immediate global scale and consequences, that everyone–including regulators–will need time to think it through.”  Since Facebook shared plans for Libra on June 18 it has dealt with a flood of criticism. During US Senate and House hearings last week, legislators slammed the social media giant for jumping into financial services when it hasn’t adequately addressed challenges, like user privacy and the spread of misinformation, on its existing platform. Congressmen further criticized the monopolistic nature of the Libra project. (Facebook is Libra’s principal developer. The company has also led the establishment of the Libra Association, the organization tasked with managing Libra’s network and monetary reserve.)  Enjoy this content in the new Quartz app Get the app Thanks for supporting our journalism! You’ve hit your monthly article limit. Become a member to help build the future of Quartz. Get unlimited access to Quartz on all devices. Unlock member-exclusive coverage, CEO interviews, member-only events, conference calls with our editors, and more.  Start free trial
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When Facebook announced last month its intention to launch its Libra cryptocurrency, the company aimed to release the digital money in the first half of 2020. But policy experts say the project is unlikely to proceed at that pace—if at all. “The odds that Libra receives regulatory approval anytime soon (i.e., in the next 6-12 months) are quite low,” Angela Walch, a research fellow at University College London’s Centre for Blockchain Technologies, wrote in an email to Quartz. “This is such a massive proposal, with immediate global scale and consequences, that everyone–including regulators–will need time to think it through.” Since Facebook shared plans for Libra on June 18 it has dealt with a flood of criticism. During US Senate and House hearings last week, legislators slammed the social media giant for jumping into financial services when it hasn’t adequately addressed challenges, like user privacy and the spread of misinformation, on its existing platform. Congressmen further criticized the monopolistic nature of the Libra project. (Facebook is Libra’s principal developer. The company has also led the establishment of the Libra Association, the organization tasked with managing Libra’s network and monetary reserve.) Enjoy this content in the new Quartz app Get the app Thanks for supporting our journalism! You’ve hit your monthly article limit. Become a member to help build the future of Quartz. Get unlimited access to Quartz on all devices. Unlock member-exclusive coverage, CEO interviews, member-only events, conference calls with our editors, and more. Start free trial

In its best quarter since going public in 2017, Snap added 13 million daily active users on Snapchat, an 8% gain year-over-year. …