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Facebook’s Security and Privacy Overhaul Comes at a Price

July 27, 2018

Facebook is making substantial investments to improve its data security and privacy practices. But the long-term cost of those investments and impact on the bottom line has spooked investors, leading to a $120 billion loss in market value on Thursday, the largest one-day loss of value for a U.S. traded company.

CEO Mark Zuckerberg said in a Wednesday earnings call that his company had “a solid quarter,” with revenue growing 42 percent year over year to $13.2 billion, and the social network now counting 2.2 billion active users monthly, with 1.5 billion people using it daily.

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