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

Bob Woodward: "I was not going to hide" my opinion on Trump

Bob Woodward didn't want to join Senate Republicans in privately condemning President Trump but declining to do so publicly, he told Jonathan Swan in an interview for "Axios on HBO."

Why it matters: Woodward has covered 9 presidents, but Trump is the first that Woodward explicitly described as "the wrong man for the job."

Watch the full Jonathan Swan interview with Bob Woodward

In the latest episode of "Axios on HBO," Jonathan Swan interviews Bob Woodward about his new book, "Rage," which was based on 19 interviews with President Trump.

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3 dead and thousands evacuated as Northern California fires explode

A building at the Meadowood Napa Valley luxury resort burns after the Glass Fire moved through the area on September 28, 2020 in St. Helena, California. Photo: by Justin Sullivan/Getty Images

Three people have died in a wildfire in Northern California and tens of thousands were evacuated across the state, as firefighters contended with strong winds and dry conditions that saw blazes explode across the state on Monday.

Driving the news: Shasta County Sheriff Eric Magrini confirmed the deaths occurred as the Zogg Fire spread across 15,000 acres, forcing the evacuation of 1,200 people. More than for 5o,000 people, per AP.