However: also faced billions of dollars in fine in the past over its poor data collection practices.
In the Cambridge Analytica scandal in 2014, Facebook paid $725 million to settle legal action due to a significant data breach.
In 2022, Facebook also paid a 265 million euros fine for allowing personal data to be extracted from the site.
Last year, the social network was fined a record 1.2 billion euros by the Irish Data Protection Commission, for transferring European users’ data outside of the jurisdiction.
Facebook is currently appealing against the fine, reports the BBC.
Instagram Threads has now reached 130 million monthly active users, up 30 million from the last quarter.
Zuckerberg said during the company’s fourth-quarter earnings call that Threads is “growing steadily”.
Threads had a record-breaking launch, reaching 100 million registered users within its first five days last July. But the interest faded over time.
