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Photo: Thomas Trutschel/Photothek via Getty Images

Facebook's stock was up nearly 4% in after-hours trading Wednesday after the company beat investor expectations for earnings, user growth and revenue.

Yes, but: The positive earnings were accompanied by several pieces of bad news.

  • Facebook announced that the Federal Trade Commission told it in June that the agency had opened an antitrust investigation into the company. 
  • It also will set aside $2 billion, on top of $3 billion set aside last quarter, to pay a historic $5 billion fine that the FTC officially levied on the company today.

By the numbers, via CNBC:

  • Earnings: $1.99 cents per share vs. $1.88 per share, forecast by Refinitiv
  • Revenue: $16.9 billion, vs. $16.5 billion, forecast by Refinitiv
  • Daily active users: 1.59 billion, vs. 1.59 billion forecast by FactSet
  • Monthly active users: 2.41 billion, vs. 2.41 billion forecast by FactSet
  • Average revenue per user: $7.05 vs. $6.87 forecast by FactSet

The big picture: Facebook reported earnings just hours after the company announced it had settled a $5 billion fine with the Federal Trade Commission over allegations that it "repeatedly used deceptive disclosures and settings to undermine users’ privacy preferences."

  • The company had previously written down the minimum amount expected from the fine — $3 billion — and will write down the rest of the fine during this quarter's financial period.
  • Facebook also said that as of today, it had settled an ongoing investigation by the Securities and Exchange Commission for $100 million.

Between the lines: Shortly before earnings, Facebook posted a clip of Mark Zuckerberg addressing Facebook employees at an internal town hall meeting this morning, where he said that the fine represents "a new chapter for the company" and said that "We are going to change they way we operate throughout the whole company."

Go deeper: Facebook settles with FTC regulators over privacy

Go deeper

Read: Former Vice President Walter Mondale's last message

Photo courtesy of Mondale.

Former Vice President Walter Mondale wrote a farewell letter to his staff, sent upon his death on Monday, thanking them for years working together.

Dear Team,

Well my time has come. I am eager to rejoin Joan and Eleanor. Before I Go I wanted to let you know how much you mean to me. Never has a public servant had a better group of people working at their side!

Together we have accomplished so much and I know you will keep up the good fight.

Joe in the White House certainly helps.

I always knew it would be okay if I arrived some place and was greeted by one of you!

My best to all of you!

Fritz

Former Vice President Walter Mondale dies at 93

Walter Mondale, left, with former President Jimmy Carter in Jan. 2018 at the McNamara Alumni Center on the University of Minnesota's campus in Minneapolis. Photo: Anthony Souffle/Star Tribune via Getty Images

Walter Mondale, who transformed the role of U.S. vice president while serving under Jimmy Carter and was the Democratic nominee for president in 1984, died Monday at 93, according to a family spokesperson.

The big picture: President Biden, who was mentored by Mondale through the years, said in 2015 that the former vice president gave him a "roadmap" to successfully take on the job.

Scoop: U.S. ambassador refuses Kremlin push to leave Russia

U.S. Ambassador to Russia John Sullivan. Photo: Anton Novoderezhkin/TASS via Getty Images

The United States ambassador to Russia is refusing to leave the country after the Kremlin "advised" him to return home following new Biden administration sanctions, two sources briefed on the situation tell Axios.

Why it matters: John Sullivan, a respected diplomat who President Biden has, so far, retained from the Trump era, is at the center of one of the most important early tests of Biden's resolve.