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Facebook's CEO Mark Zuckerberg in May 2018. Photo: GERARD JULIEN/AFP/Getty Images

Facebook told investors it expects a Federal Trade Commission fine of up to $5 billion, driving down its GAAP earnings per share. Still, Facebook stock was up more than 4% in after-hours trading Wednesday after reporting otherwise positive first-quarter earnings.

Why it matters: Reports had suggested that the FTC could slap Facebook with a multibillion-dollar fine as a result of an ongoing investigation into Facebook's handling of data privacy. Facebook says it expects a loss of $3 to $5 billion from the debacle. The matter still unresolved.

The big picture: Despite the write-down for a major fine that it is anticipating around the way it managed user privacy, the company still continues to grow, adding more users and advertising dollars and meeting Wall Street expectations.

The details: The company reported that its GAAP EPS was $85 cents, compared to a consensus of $1.62 and down from $1.89, due to a "one-time charge," that was attributed to the FTC's inquiry.

By the numbers:

  • Earnings: $85 cents vs. $1.63 per share forecast by Refinitiv
  • Revenue: $15.08 vs. $14.98 billion, forecast by Refinitiv
  • Daily active users: 1.56 billion vs. 1.56 billion, forecast by FactSet
  • Monthly active users: 2.3 billion vs. 2.37 billion, forecast by FactSet
  • Average revenue per user: $6.42 vs. $6.39, forecast by FactSet
  • "Family of apps" daily active users: 2.1 billion
  • "Family of apps" monthly active users: 2.7 billion

Go deeper: For tech giants, profits far outweigh fines

Go deeper

Return-to-work plans on ice after COVID spike

Illustration: Sarah Grillo/Axios

Even more "back-to-office" callbacks are being postponed amid a surge in COVID-19 infections.

Why it matters: It feels like March 13, 2020, all over again. When businesses sent all their workers home, it was an early big hint the pandemic was going to upend our lives.

How the Delta variant ups the stakes in the war against COVID

Illustration: Shoshana Gordon/Axios

The dominant Delta variant's ability to efficiently infect people and rapidly grow inside a person is enabling the coronavirus to regain its footing in the United States.

Why it matters: "The solution is right in front of us — get everybody vaccinated and we wouldn't even be talking about this," NIAID director Anthony Fauci tells Axios.

Apple debuts plan to detect images of child sexual abuse

Illustration: Aïda Amer/Axios

Apple announced new iPhone features Thursday that it said would enable the detection and reporting of illegal images of child sexual abuse while preserving users' privacy.

Driving the news: One new system will use cryptographic hashes to identify illegal images that users are uploading to Apple's iCloud without Apple directly snooping in users' troves of photos, which can be encrypted.