Facebook will set aside $ 3 billion in investigation

Facebook announced that it would reserve $ 3 billion (£ 2.3 billion) to cover the potential costs of an investigation by US authorities over its privacy practices.

The social media giant also said its sales for the first three months of the year jumped 26 percent to $ 15.08 billion, slightly exceeding market expectations.

The US Federal Trade Commission's investigation has certainly left a heavy toll, but the final cost could be as much as $ 5 billion, he added.

Monthly users have increased by 8%, he said.

This increase brings the number of users to 2.38 billion.

Equities have risen nearly 40% since the beginning of the year, far surpbading the broader market, and have risen by almost 5% at the end of the Wall Street session.