Facebook warns of costly privacy changes, discloses another U.S. probe

SAN FRANCISCO: Facebook Inc said on Wednesday that new rules and product changes aimed at protecting users’ privacy would slow its revenue growth into next year and significantly raise expenses, taking the shine off quarterly revenue results that beat expectations.

The outlook was the latest twist in a day of contrasting news for the world’s largest social media company. Facebook earlier agreed to pay $5 billion to settle a U.S. Federal Trade Commission data privacy probe but then disclosed that the regulator was now investigating it for anti-competitive behaviour.